Vince Power's publicly
listed music festivals company, Music Festivals plc, has told shareholders that
the company expects to make a loss this year, due to the disappointing ticket
sales for this year's Hop Farm Festival, which made a loss overall. In a
statement to investors, Music Festivals plc said that its other flagship event,
Benicassim, was profitable this year, but at a lower level than 2011.
Power has made a £750,000 unsecured loan to the company which is now “exploring
ways of raising additional working capital".
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