On November 24, we reported that Elastic Artists, one of dance music’s most popular booking agencies, was on the verge of administration.
Several artists told FACT that they tried to contact Elastic about missing payments, only to be told that the accounts team were unavailable, while others – such as Alexander Nut – went more public. Former employees at the agency echoed this view, saying that the company was on the verge of administration and that agents, like artists, weren’t being paid.
As the story continued to grow, things started to get messy, with Manchester group Levelz (whose Rich Reason is a former employee at Elastic) hijacking the company’s Facebook page and being investigated by police.
In a new email sent out to its artists and former artists, Elastic explains that it was placed into administration on December 7. Michael Robert Fortune and Carl Derek Faulds are the appointed administrators and they operate as agents on behalf of the company.
After an explanation of what administration is, the email asks artists and promoters to “submit details of what they are owed. We are keeping a record of this and as soon as there is a substantial update we will be reporting back to everybody.” It goes on to claim that Elastic anticipate that artists and promoters should receive “a proportion of the money owed. Unfortunately it is unlikely that 100% of the money owed will be received and it is likely that it will take a number of months for artists and promoters to receive such payment. At this juncture we are not able to comment on the timing or level of payment that will be received.”
Elastic’s website and social media accounts have been taken down.