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| Rock4Life Festival Promoters Heading for Liquidation |
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A meeting of creditors takes place in the Scottish town of Nairn next Tuesday. It comes more than three weeks after the festival, headlined by Status Quo, was due to be held. The company said although sales for Status Quo were meeting expectations, the overheads related to the two-day event combined with cash-flow problems brought on by the poor second day's ticket sales left them with no option but to cancel the entire event. Fewer than 450 tickets were sold for a second day line-up topped by the Sugababes and McFly. Refunds to fans have been delayed due to the legal process involved in placing the event organisers into liquidation. Related Articles: Ticket Summit Draws Elite Event Promoters to NYC Ticket
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Caledonian Productions, promoter of the cancelled Scottish festival, Rock4Life, is likely to opt for voluntary liquidation next week, because it is unable to pay its debts in full, reports the 