The company have had a tough couple of days, seeing their highly-anticipated festival end with riots and crowds of disappointed fans after they over-sold thousands of tickets. Now things have gotten even worse, as the company behind it have been put into administration.
“It is with great sadness that we announce Baselogic Productions (who you all know as Bloc) has been placed into administration following the events of Friday evening,” a statement from the company reads. “The team are working hard with the administrators to investigate the issues that led to the closure of the event and people will be updated as and when we have new information. We ask that you allow the administrators time to conduct a thorough investigation so we can establish the facts.
“Once again we would like to apologise for all of the frustration and disappointment this situation has caused and thank everyone who has supported the team over the years, your continued support means so much to us.”
There was also a statement from the administrators themselves, which reads: “On 11 July 2012, Baselogic Productions Ltd trading as Bloc voluntarily entered administration. The appointed administrator is Jamie Playford of Parker Andrews Insolvency Practitioners. An investigation into the facts leading to Baselogic Productions and the administration will be conducted immediately by Parker Andrews and a further statement will be issued in due course. Jamie Playford said: “It is important that we understand the full facts including what funds will be available to creditors and ticket-holders and to ensure the information we provide about the next stages of administration is clear and concise.”
As you’d expect, fans are extremely unhappy and are hoping that they’ll still be hoping to get their cash back from what was a very disappointing festival. Were you a ticket-holder? Let us know what you think in the comments section below.
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