Directors of the Meadowlands Festival in Sussex have warned managers that the event is currently unable to pay its artists, a letter obtained by Music Week has revealed.
While the festival, which was headlined last month by the likes of Lamb, Speech Debelle and Fink, remains “committed” to eventually paying both the performers and their managers, organisers have revealed that the festival has "lost a considerable amount of money."
Despite the directors’ warning that "right now, we have no available funds," they did confirm 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 the festival’s directors are personally underwriting investments to "ensure that the company does not go bankrupt, which if it does, there are no winners."
The group also asks for both managers and artists to remain patient over contracted payments, adding "you will receive your fees as soon as we can arrange the necessary funds."
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