Only two weeks after the Camden Crawl festival celebrated its 19th anniversary, its founder, Lisa Paulon, says she has placed the company into voluntary liquidation.
The event was considered by many as one of the key dates on the indie festival circuit. Since 1995, it has hosted some of the biggest contemporary names in music, including Amy Winehouse, Florence and the Machine, Adele, Disclosure and Mumford and Sons.
On Friday, the Camden Crawl published an official statement on its website, claiming that due to low ticket sales, it is unable to pay its debts in full to any suppliers, staff or the company’s directors and shareholders.
"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 10 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," the statement reads.
Meetings of shareholders and ceditors are said to be scheduled for the 11 July: "Once the company is in liquidation and a liquidator is appointed, the liquidator will realise all assets, try and agree all creditor claims and if possible make a distribution (paying a portion of the debts due to all creditors)."
Performers and labels involved with 2014's event have been voicing their opinions on Twitter. "How did Camden Crawl let this happen?? We took time off work, paid for transport and fee was for studio rent," wrote one band on Twitter. "Cause and effect of Camden Crawl not paying us is that we're broke enough now to finally have to give up our rehearsal space," said Manchester band Mazes.
This year the festival – rebranded as "CC14" – took place in over 20 venues across Camden on 20 and 21 June, after decamping to Dublin for the 2013 event.
It was originally set up in 1995 by a group of friends who ran small independent labels and were finding it hard to find venues to host their acts. "We thought we'd pool together to get some gigs put on, but it was ultimate chaos," Paulon told the Guardian in 2011. "We were just five people who didn't know anything about putting on a gig, and less about health and safety. It was definitely a lot noisier than it is now." The first ever lineup included Kenickie, Bis, Gallon Drunk and the Wedding Present.
In recent years, Paulon has claimed that the event has suffered the impact of major events such as the royal wedding, the 2012 Olympics, numerous new festivals and the effects of the recession.
