The organisers of the cancelled Isle of Man Festival say they are no longer in a position to carry on trading.
Rockingmann Festivals Limited has now instructed accountancy firm Shimmin Wilson to call a general meeting of the shareholders.
This will be followed by a meeting of the creditors which will take place on September 24th at the Villa Marina.
Office of Fair Trading chief inspector John Peet told us what this means for ticket holders who are still owed a refund:
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