Events By B3 Ltd, which organises and runs The Yorkshire Dales Food and Drink Festival – the largest food and drink event of its kind in the UK – has ceased trading with immediate effect and will enter liquidation.
Jonathan Amor and Richard Oddy, licensed insolvency practitioners with Azets, have been engaged to manage the Creditors Voluntary Liquidation (CVL).
The proposed joint liquidators are urging interested parties to make contact as soon as possible to maximise the chances of securing the future of the festival.
Founded in 2015, the three-day Yorkshire Dales Food and Drink Festival expanded rapidly and now occupies a substantial site at Funkirk Farm, near Skipton.
The event, which is held during the third weekend in July, attracts more than 30,000 visitors, 200 exhibitors and offers a diverse schedule of bands, street food, pop-up restaurants, workshops, food tasting and masterclasses from leading food and drink celebrities.
The festival is estimated to generate around £7m for the local economy.
However, the event in 2023 was loss-making after it was seriously affected by flooding, leading to unforeseen costs.
This had a major impact on cash flow in the organising company which continued into 2024.
Operational costs have dramatically increased for the event in 2024 and with the revenue contribution from ticket sales behind where it should be at this time of year, the decision has been taken by the directors to cease trading.
Proposed joint liquidator Jonathan Amor, partner and head of restructuring for Azets in Yorkshire, said: “The Yorkshire Dales Food and Drink Festival is the largest event of its kind in the UK and regarded for the contribution it makes to the local economy.
“Unfortunately, the business has been suffering from unsustainable financial problems and the directors decided that it would be in the best interests for all creditors for the company to cease trading and be placed into liquidation.
“The festival has now ceased trading and steps will be taken to market the assets for sale including the brand, intellectual property, digital platform, data and essential infrastructure such as marquees, tents and staging.
“We ask that interested parties contact the Leeds office of Azets as soon as possible.”
Customers are encouraged to check with their credit or debit card providers if they can claim a refund.
