SSC Festivals Files For Preliminary Bankruptcy

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SSC Festivals GmbH, the promotion arm of SSC Group, has filed for preliminary bankruptcy at a district court in Düsseldorf, Germany.

Speaking to Stuttgarter Zeitung, SSC Group MD Hamed Shahi-Moghanni confirmed the legal measure. SSC Festivals is the promoter of New Fall Festival, which takes place in Stuttgart and Düsseldorf on the same weekend, and didn’t sell enough tickets in 2017 to cover costs.

A few employees agreed to forgo their salaries, and none were let go. He told the newspaper that he was grateful for his employees understanding and that he was sure they could turn the corner together.

Shahi-Moghanni pointed out that the company was merely filing for preliminary bankruptcy; hence the festival was good to go. The 2018 editions have been set for Oct. 25-28. He’s planning on announcing the lineup in March.

New Fall Festival premiered in Düsseldorf in 2011, the Stuttgart twin was added in 2016. SSC Group has been continuingly expanding its service portfolio from a concert and touring agency to a 360-pop-culture agency.

Besides its festival business, the group comprises a local promotion office, as well departments for brand consulting and gastronomy. More platforms are in the making.