Music Festivals fails to pump up the volume

Tuesday 25 September 2012 09:58 BST

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The music died for the veteran festival entrepreneur Vince Power yesterday as his latest venture prepared for administration barely a year after floating on the stock market.

Music Festivals – which runs the Hop Farm Festival in Kent and Spain's Benicassim – suspended share trading on Friday after failing to raise working capital. Yesterday it confirmed that it would appoint administrators "in due course". Mr Power, who built up the Mean Fiddler business over 30 years and ran the Reading music festival, held a 45 per cent stake in the business – the UK's first listed festivals organiser. But the company has struggled thanks to this summer's shocking weather and the rival attractions of the Olympics.

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Music Festivals fails to pump up the volume

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