Investment is urgently needed to rescue The Yorkshire Dales Food and Drink Festival, a beloved North Yorkshire event facing closure. Organised by Events By B3 Ltd, the festival has become the UK’s largest food and drink gathering since its inception in 2015.
Located at Funkirk Farm near Skipton, the three-day event typically draws over 30,000 visitors and 200 exhibitors annually. The Yorkshire Dales Food and Drink Festival is the largest festival of its kind in the country. Unfortunately, unforeseen challenges, including flooding in 2023 and declining ticket sales in 2024, have led to unsustainable financial difficulties for the company.
Facing insolvency, Events By B3 Ltd has ceased trading and will enter liquidation. The festival, renowned for its diverse offerings like street food, workshops, and celebrity chef masterclasses, has contributed significantly to the local economy, generating an estimated £7 million.
Interested investors are being encouraged to step forward promptly in order to save the festival and keep it running. The proposed joint liquidators, Jonathan Amor and Richard Oddy from Azets, are tasked with managing the Creditors Voluntary Liquidation (CVL) process. They emphasise the need for interested parties to act swiftly to secure the festival’s future.
Assets up for sale include the festival’s brand, intellectual property, digital platform, and essential infrastructure such as marquees and staging. Customers who have purchased tickets are advised to explore options for refunds through their credit or debit card providers.
With fixed assets valued at £259,503 and current assets at £256,578, according to the company’s most recent accounts on Companies House, immediate action is essential to preserve this cherished cultural event and its economic benefits for the region.
The UK is facing a significant insolvency crisis due to factors like the escalating cost of living, reduced consumer spending, and supply chain price hikes. To explore opportunities for maximising profits amidst these challenges, keep an eye on Administration List.
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