Portland Leonard Curtis instructed as liquidators of Podium Event Group Limited

Hampshire based Podium Event Group Limited has been forced to cancel the Romsey Park Proms due to be held on the Broadlands Estate during the August Bank Holiday.

The cancellation follows a 12 month delay in holding the event due to COVID restrictions.

The event was first planned to be held in August 2021 over two days featuring artists such as James Morrison, Pixie Lott and the Royal Philharmonic Concert Orchestra but due to COVID restrictions had to be postponed.

Stewart Goldsmith, Associate Director at Portland Leonard Curtis commented:

“The onset of COVID resulted in ticket sales being halted at a crucial time in the planning for the original dates. Once the event was postponed, ticket sales stalled and then the uncertainty as to when restrictions would be lifted resulted in further ticket sales being suspended. Although all the planning was in place for the event to be held this year, not enough tickets had been sold to make it viable, rather than risk trying to sell more tickets to fund the event it was decided it should be cancelled.”

Stewert Goldsmith

The company initially offered to refund tickets when the event was first postponed, but due to overwhelming demand for refunds, it had to withdraw that offer as it had already paid out significant costs in advance and with new ticket sales suspended, the company didn’t have any new incoming cashflow and had exhausted its financial reserves.

Carl Faulds, Managing Director of Portland Leonard Curtis added:

“It is very disappointing for everyone involved that the event has had to be cancelled. We have contacted all ticket holders and explained their rights to pursue a refund through their debit or credit card company, as on present information it does not appear that there will be any payment to unsecured creditors in the liquidation.”

High MVLs 2021

Stewart Goldsmith further commented:

“We appreciate that a lot of ticket holders will be wondering what has happened to the ticket sale money and that is something that will be investigated by the liquidators. An initial review of the company’s finances shows that substantial deposits for items such as artists, marquees, power and insurance costs amongst other things have already been paid and it does not appear at present that the directors have personally financially benefited. We can assure ticket holders that this aspect will be considered in more detail in due course as part of the liquidators’ investigation into the company’s financial position and the conduct of the directors.“

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