Xclusive Tickets, an online ticket agency, is on the verge of going into liquidation, administrators have said.
The company failed to deliver nearly 18,000 tickets for a series of events in August, including the Reading and Leeds festival.
People who had bought tickets for the Beijing Olympics also failed to receive their purchase.
Lane Bednash, from insolvency company Valentine and Co, said ticket holders who used their credit cards should be able to claim refunds.
But he sent a warning to those who did not pay via card, telling the BBC they would become “unsecured” creditors.
Last week, SOS Master Tickets, a secondary ticket agency, also failed to deliver tickets for a range of music events.
SOS Master Tickets website is no longer online, and the company's phone lines are all dead.
The company, which operates out of an address in Islington, North London, now faces investigation from Trading Standards.
Simply click the following links for extensive photo coverage from this years Leeds festival.
Leeds Festival - Day One
Leeds Festival - Day Two
Leeds Festival - Day Three
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