Major comedy festival under threat as operator folds

The company that runs one of the UK's biggest comedy festivals has ceased trading.Directors of Big Difference Company - which ran Leicester Comedy Festival - announced "with great sadness" it had "become insolvent and ceased trading". It comes weeks after it submitted a serious incident report to the Charity Commission over ongoing financial issues.The directors of the festival, which started in 1994, cited "increasing costs, a difficult funding environment, and significant pressures within the live comedy sector" as factors in its decision.Leicester City Council said it would work with promoters and venues "to ensure that an interim comedy festival programme can take place in 2027".Harry Hill, Matt Lucas, Graham Norton and Sarah Millican are among the well-known names who have performed at the event over the past three decades."For 32 years, [the festival] has been an important part of the cultural and economic life of our region, showcasing comedy talent, attracting visitors, and supporting local businesses and venues," the directors said."We acknowledge that this news will be deeply disappointing to staff, performers, venues, promoters and supporters."In May it emerged hundreds of comedians said they were unpaid following this year's festival, and in July an arts venue managed by the charity was repossessed due to the "non-payment of rent and insurance".The directors said they "worked tirelessly to avoid this outcome", including looking at reducing costs and seeking new funding, but said it was "not possible to secure a sustainable future"."We recognise the significant impact this will have on our employees, performers, venues, suppliers and other creditors, and we are sincerely sorry to all those affected," they said. "Our immediate focus is to meet our legal obligations and engage constructively with stakeholders throughout the insolvency process."Looking ahead, we remain committed to working with stakeholders, including Leicester City Council, funders, venues and the wider community, to explore how a sustainable long-term future can be secured for this much-loved festival."Leicester city mayor Sir Peter Soulsby said the council would ensure a comedy festival continues to take place."We're very sorry that the Big Difference Company has gone into liquidation, and we understand that this is a difficult time for its staff and all of those affected," he said."The Leicester Comedy Festival has been a hugely important part of Leicester's cultural calendar, bringing thousands of visitors to the city every year, and with them a big boost to our economy. "While of course we can't pick up the debts of a registered charity, we do want to ensure the festival goes ahead next year. "We will therefore be working with local promoters, venues, and other stakeholders, and drawing upon the expertise of our own festivals and De Montfort Hall teams, to ensure that an interim comedy festival programme can take place in 2027, while we work to secure a sustainable operation for the long-term."