The American company SFX, which owns Dutch festival organisers ID&T, b2s and Awakenings, booked a loss of almost €80m over the first six months of this year.

Credit ratings agency Moody’s has also raised doubts about whether the company can recover. ‘The company has very weak liquidity and requires external financing to continue operating,’ the latest report from the credit agency said.

SFX was launched on the stock exchange in 2013 and since then has been snapping up other companies. In 2013, SFX spent $130m buying ID&T – organiser of the Sensation and Mysteryland events. Others followed in 2014.

SFX is currently looking at ‘strategic alternatives’ and the sale of some units is among the options, ANP said.