Truck to stop?

The co-founder of the UK's Truck Festival has denied claims the Festival's parent company is going into administration after losing too much money at this year's event in Oxfordshire, but has admitted the 2011 festival has caused financial difficulties. Robin Bennett told a local paper: "Things are still a little unclear, but the situation is not looking good. Our revenue has not been adequate to cover the cost of this year's event and we have been left with a major hole. We are a small family business and we cannot sustain that kind of loss, and are now reaching out to find a method of dealing with it". Explaining the situation, he said: "We didn't have enough full-price ticket holders, and bar and food spending, which we hoped would make a contribution to profits, wasn't high ... The market this year is dire. There are just too many festivals" and said the company was looking for investment.