UK orchestra is hit by promoter’s insolvency
mainThe Bournemouth Symphony Orchestra is taking a financial hit on a Proms in the Castle at Powderham on Sunday July 30. The event was cancelled after its promoter Stephen C Associates Ltd went into liquidation on Wednesday.
Aside from not receiving its hire fee, the BSO will refund concertgoers who bought directly from the orchestra. That’s lose-lose.
Unless BSO had passed on ticket sales income to the promoter (unlikely until the event, for administrative ease), then refunding those is a hassle, but not a loss.
Not receiving its hire fee whilst still being contacted to pay the salaries of the players is a hit, of course.
There’s a loss in the payments to the players, the soloists and the additional staging costs that they were contracted to provide. Tens of thousands of pounds, I reckon.
Ollie Murs was also supposed to perform at Powderham Castle at the end of this month. Both concerts were widely promoted together, with large banners displayed far and wide in the region. Many had paid up to £100 each for tickets. It seems very wrong that after such widespread advertising the promoter can simply declare themselves bankrupt and everyone loses their money. Is there no insurance promoters must take out?
At least it was an honest failure.