𝐂𝐘𝐂𝐋𝐎𝐍𝐄 𝐄𝐕𝐄𝐍𝐓𝐒 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓 (𝐖𝐑𝐄𝐗𝐇𝐀𝐌) 𝐋𝐓𝐃
It is with great sadness, that we announce Cyclone Events Management (Wrexham) Ltd has ceased trading with immediate effect as a direct result of the financial impact of Covid restrictions on the business.
We are extremely upset and saddened that we have no other option but to take this course of action. We have tried very hard to make this work and pay everyone back. This has been forced on us by the restrictions directly due to the pandemic and we do not take lightly the fact that we are letting our customers down who paid their ticket money in good faith. We also planned and paid for the events in good faith. These events should have made a good profit but now we are faced with losing our business. This decision was not taken lightly and has made a huge impact on the Director and his family who have received threats and abuse during this difficult time.
New events were planned for October, November and December 2020 as a result of the government telling businesses to think outside the box, and three Covid safe events were planned at a time when there were few restrictions and no sign of any further restrictions.
These events sold out very quickly and suppliers were paid up front as is standard in the events industry. The first two events, Festevil and Festevil-ish started on 16th October. One week before the first events opened, local restrictions were brought in which meant we had to start refunding customers from outside the area. Shortly after this we were put on an all-Wales lockdown. There were no restrictions in England at that time, so we moved the event over the border into Shropshire, England.
This incurred extra costs of take down and set up at the new venue which would absorb all profits made to date and so a bank loan was taken to help subsidise the refunds we were making.
Sadly, less than one week at the new venue, England was put into lockdown which meant the event was closed again through no fault of our own and this meant even more refunds were due. We still had our Santa event scheduled for December and looked at the budgets to see if we could make enough profit to fund the refunds due from the other two events. We were reassured by a statement from the Welsh Government stating that there would be no further lockdowns before Christmas.
The Santa event went ahead as planned but then was hit by a further lockdown on 19th December with no prior warning. This meant further refunds were due on top of what we already owed to our ticketholders. We had limited funds available after paying our suppliers and employees. At no time since Covid started in March 2020, has the Director or management staff received any remuneration. This can all be verified in the detailed accounts which have been supplied to the insolvency practitioners. We would also point out that we have had no grants or other financial help that has been offered to some industry sectors and employees. The events industry has been entirely neglected by all governments in the UK.
The events affected by today's actions are;
- Festevil Horror Drive-thru
- Santa Christmas Drive-thru
- Festevil-ish Family Horror Drive-thru
- Wales Prosecco Gin & Rum Festival
- Dirty Dancing Dinner Show
- Rocky Horror Dinner Show
The Company has appointed Irwin Insolvency licensed practitioners to look at placing the company into CVL (Creditors Voluntary Liquidation).
𝐖𝐇𝐀𝐓 𝐍𝐄𝐗𝐓 𝐅𝐎𝐑 𝐓𝐇𝐎𝐒𝐄 𝐖𝐇𝐎 𝐀𝐑𝐄 𝐃𝐔𝐄 𝐑𝐄𝐅𝐔𝐍𝐃𝐒?
Please note this doesn't mean you will not receive your refund. You will instead have to apply direct to the insolvency company for access to the remaining pot of funds available. All ticket holders will be contacted by email in due course by Irwin Insolvency today with further information on the procedures along with links to view the company accounts and full transparent details on why the company has had to enter liquidation.
We would like to say a huge thank you to those who have supported us and the kindness shown by many customers who said they did not want their refunds, and to those who have been patient while we tried to resolve the situation. This truly is appreciated. We really did try our best. We have staged some fantastic events over the years in north Wales and entertained hundreds of thousands across the past five years. We do hope we are able to return in the future.
Thank you to you all.
Cyclone Events Management