Accountants from Hacker Young stepped in after the event recorded a £400,000 deficit, after 20,000 fewer people turned up compared tolast year’s event.
Organisers blamed the poor attendance on the decision to switch the venue from Finsbury Park to Hackney Marshes.
Andrew Andronikou, from Hacker Young told the Guardian only 35,000 tickets had been sold instead of the anticipated 50,000 to 60,000.
Organisers were still hopeful of staging the event next year in Hyde Park.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children