Camden Crawl has released a full statement on its official website confirming a move into liquidation after a year of poor ticket sales.
“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,” the statement 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.”
Camden Crawl had a year off in 2013 but was back on the scene last month, under the new label CC14.