Music Week’s Tom Ingham reported today (18 July, 2012) the following disappointing news story With Guitars figured you should know.
The directors of Meadowlands Festival in Sussex have written to managers warning that the event cannot currently pay its artists, a letter obtained by Music Week reveals.
Although the festival, which was headlined last month by the likes of Lamb, Speech Debelle and Fink (pictured), is "committed" to eventually paying the acts and their managers, organisers admit that the event has "lost a considerable amount of money".
Other acts on the bill included Skinny Lister, Rough Fields, LTJ Bukem and Tom Williams & the Boat.
The directors warn that "right now, we have no available funds" and that " we have at present paid all of the infrastructure costs as a priority to ensure that we can put the festival on again next year, we are relying on the generosity of our investors to show faith and help us to achieve this".
"The [lost] money will take time to recoup as the Directors are presently arranging funds, not only to pay outstanding bills from this years festival but hopefully, to make Meadowlands 2013 a reality," reads the letter.
It warns that Meadowlands directors are personally underwriting investments to "ensure that the company does not go bankrupt, which if it does, there are no winners".
The group calls for patience from managers and artists over contracted payments, adding "you will receive your fees as soon as we can arrange the necessary funds".
Meadowlands took place between June 1 and 3 in Glynde Place, East Sussex.
Music Week has contacted Meadowlands for further comment. WG with the music industry magazine, will try and keep you posted.