Organisers of Party at the Palace have vowed next year’s festival will be bigger and better than ever before.
Despite the company going into liquidation last week, organiser John Richardson is determined to make next year a success.
He said: “Restructuring the company is to allow for fresh investment. In 2015 we made huge improvements to the event itself and in 2016 we need to improve the finances.
“Ticket sales last year were well below what we need to make this event a long term success.”
This year’s festival was headlined by Nile Rodgers and Travis. The 2016 version will take place on the weekend beginning Saturday, August 13, but negotiations are still ongoing over the site.
A second stage will provide a platform for more local and up and coming acts to play a set during the weekend long event.
Party at the Palace debt stands at £188,920.95 and some local businesses are owed money.
John said: “There are a lot of people who have benefitted from Party at the Palace and the vast majority of businesses we worked with are supporting us next year.
“It has always been about bringing benefit to the local community.”
He said the festival would continue to have a family focus next year and he hopes to offer kids tickets for £5.