With A Little Help From Friends: German Promoter SSC Festivals Averts Bankruptcy
After filing for preliminary bankruptcy at the beginning of this year, SSC Festivals GmbH, based in Düsseldorf, Germany, has turned the corner.
Schiko – New Fall Festival 2017
Mogwai on stage at Düsseldorf
“The bankruptcy of SSC Festivals is now formally averted, by our own power and the support of friends. Now, we can focus on making New Fall better,” a SSC Festivals spokesperson told IQ Magazine.
SSC Group’s festival department had been struggling after the 2017 edition of New Fall Festival, a twin event taking place in Düsseldorf and Stuttgart the same weekend, didn’t sell enough tickets.
To avert becoming insolvent, a few SSC employees had agreed to forgo their salaries. It was worth the team effort, as no staff had to be let go in the end.
“After we had some trouble with generating revenues in the past year, it was not clear whether New Fall Festival could take place in 2018,” the company rep told IQ. “But now it’s safe to say, also due to the fantastic support from our main sponsor, New Fall Festival is going to happen in 2018. Better not bigger!”
This year, New Fall Festival takes place Oct. 25-28 and the line-up has yet to be announced.