Festicket Ltd – administration

Festicket Ltd, a UK-based ticketing company, formally entered administration on 13 September, having been unable to come up with a rescue plan after filing a moratorium in August. The company, which specialised in selling packages for music festivals, was impacted by the Covid-19 pandemic and ensuing shutdown of live music events. It has been reported that US-based ticket exchange service Lyte has agreed to acquire certain assets of Event Genius, which is owned by Festicket. Lee Manning, Cameron Gunn and Simon Jagger of ReSolve were appointed joint administrators. Kreos Capital V (UK) Limited has a registered charge against the company.