Vince Power concert company to appoint administrator

Music Festivals, a concert company controlled by the Irish entertainment entrepreneur Vince Power, is set to appoint an administrator.

27th September, 2012

Music Festivals, a concert company controlled by the Irish entertainment entrepreneur Vince Power, is set to appoint an administrator after experiencing financial difficulty.

Music Festivals floated on the Alternative Investment Market in London last June, raising stg£9.2 million (€11.6 million) from investors and banks. The company has since spent stg£10.7 million (€13.5 million) snapping up a number of music festivals around Europe.

However, its shares have now been suspended, and the company has...

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