Baselogic Promotions, the parent company of Bloc Festival, have confirmed they have been forced to enter administration.
The Bloc website released the following statement earlier today:
“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. 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.”
Meanwhile, Parker Andrews – the appointed administrators for Bloc – had the following to add:
“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 ticketholders and to ensure the information we provide about the next stages of administration is clear and concise”. “
More to follow as the story develops.