Labels and bands booked for last month's Camden Crawl weren't too impressed when the festival announced it was going into voluntary liquidation on Thursday – especially seeing as many of them hadn't been paid for playing. The festival organisers have now stepped up "with great regret and sadness" to explain why the festival has been scrapped only two weeks after it celebrated its 19th anniversary. Basically, they couldn't shift the tickets.
"Due to ticket sales falling far short of expectations for this year’s event, Crawl Promotions Ltd, the Company which promotes the Camden Crawl, is unable to pay its debts in full to any suppliers, staff or the Company’s directors and shareholders," a statement on the festival website reads.
"As it stands the total debts substantially exceed the value of the assets of the Company. Because of this completely unanticipated situation and after nearly ten years of successfully promoting the Camden Crawl festival, it is with great regret and sadness that there has been no other option than to convene meetings for the purpose of placing the Company into Creditors’ Voluntary Liquidation."
But it seems like Camden Crawl wasn't operating on totally transparent practices, anyway. When news of the liquidation broke, indie label Invada Records took to Twitter to shed light on how the bookings process worked:
Sounds like a totally legit way to run a business, right? Other artists, including D/R/U/G/S and Mazes, have tweeted their displeasure at not being paid for playing, with D/R/U/G/S summing up the general mood among Camden Crawl acts right now:
Your move, Camden Crawl.
Follow Zing Tsjeng on Twitter here @misszing
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