Overview

• Wegow, Spain's leading ticketing platform, has declared a preconcurso de acreedores, a legal step to avoid liquidation and reorganize finances.
• Funds from ticket sales are currently frozen, leaving thousands of fans and numerous artists without expected income from concerts.
• The company asserts that operations will continue uninterrupted during the restructuring process to stabilize its financial position.
• Affected bands, including Hora Zulu and Bombai, are guaranteeing performances and shifting ticket sales to alternative platforms despite financial losses.
• Wegow attributes its financial struggles to lingering pandemic effects, structural cost inflation, and consumer uncertainty in cultural spending.