Bestival creditor Richmond Group offers to buy the festival brand for £1.1m

  Bestival financier Richmond Group said today it has made an £1.1m offer to the festival's organisers for its brand and assets.

Bestival Group filed for administration with the High Court last week, and on Sunday said the search for a partner for its family-friendly Camp Bestival event was ongoing despite facing "financial challenges".

Richmond Group said in its offer that it intends to continue running Camp Bestival going forward, including the already scheduled event at Lulworth Estate in 2019. All tickets sold previously will be honoured.

"We have been fans and supporters of Bestival since the beginning," said Richmond chief executive James Benamor. "Our children have grown up with wonderful memories of these festivals.

"Bestival is an example of Dorset being world class and we are keen to ensure that this fantastic institution goes on to delight families and local businesses, for many years to come.” 

Plans for Bestival Group's music festival Bestival, which was held on the Isle of Wight until last year, remain unclear.

Partygoers from this year's Camp Bestival are still awaiting refunds from organisers, after the festival had to be ended early due to turbulent weather conditions.

A statement published on Camp Bestival's website on Sunday read:

We can confirm the Bestival Group has had some financial challenges of late but the process we are in allows a new partner to come on board with the financial commitments required to deliver Camp Bestival 2019 in its finest form. As we stand currently, there is every intention to make this show happen, and move forward into a new era.