Fears for the future of RockNess music festival
The company behind the RockNess festival is £1.2 million in the red.
The event, held at Dores on the shores of Loch Ness each June, became one of Scotland’s largest music festivals attracting crowds of 33,000.
But it was cancelled last year, with organisers citing competition from the World Cup and Commonwealth Games, and this week it was revealed that it will not be held in 2015 either.
The festival is promoted by American entertainment giant AEG, which is the majority shareholder in the Inverness-registered company, Rock Ness Limited.
Norman Cook, better known as Fatboy Slim and who has twice headlined the festival, owns 5 per cent of the shares.
The latest filed accounts show the company has unsupported debts of £1.242 million and reveal that music promoter Jim King, who has a 26 per cent shareholding, left the board last April.
Joe Gibbs, organiser of the Belladrum Festival near Beauly, left the board in February 2013.
Following the first sellout RockNess festival in 2006, the event grew steadily and has featured acts such as Kasabian, Manic Street Preachers and Mumford and Sons.
News that the festival will not return in 2015 comes after months of speculation.
This week AEG spokeswoman Mary McGowne said the event was not happening but would not comment on why or the festival’s long-term future.
Willie Cameron, of Loch Ness Marketing, described the festival’s cancellation as a big blow but pointed out that the location remained. "It could be a great opportunity for someone to organise a new festival," he said.
