Music Festivals suspends shares after bad summer
michael baggs
15:22 21st September 2012

Leonard Cohen's no-show and a string of other festival problems in 2012 have left the organisers of Hop Farm and Benicassim facing a troubled time and uncertain future.

The continuation of such events is now in jeopardy after Music Festivals suspended its shares, after it was unable to source new funds to keep the company afloat. Music Festivals is now expected to post a full year loss after sales for both Hop Farm and Benicassim were disappointing. Leonard Cohen moved his show at Hop Farm to Wembley at the last minute - although Cohen later hit out at those behind the decision.

"I want you to know I learned about it the same time you did," he said, reported ContactMusic earlier in September. "There are unseen hands that manipulate the marketplace. Hands that I never get to see, or crush."

The summer of 2012 has seen a string of festival problems with bad weather causing choas at early festivals. Bestival boss Rob da Bank blamed the interest in the Olympics on the lack of festival support this year.

"Last year, around this time I was pooh-poohing the Olympics a little bit, not really thinking it was going to have any effect but I was wrong, it's had a huge effect on event sales in general," says the producer, DJ and festival organiser in an interview with Gigwise. "That, combined with economic woes, for a lot of people it hasn't been a good year and we had a pretty terrible start to the year with weather and stuff. The year has been crap for a lot of people.

Bob Dylan headlined both Hop Farm and Benicassim in 2012.

Below: Hop Farm 2012 - the last ever?