The company behind last month's Blenheim Festival of Flight is going into administration, claiming thousands of people managed to get in without buying tickets.
Dozens of businesses sub-contracted to help run the show on August 14 look set to lose thousands of pounds after CMc company director Haimish Mead admitted the firm had made losses in excess of £100,000 from the event.
The possibility of the spectacular, which attracted 22,000 people from all over the country, being staged again next year, now looks unlikely.
Mr Mead said CMc Media, based in Cirencester, Gloucestershire, had not overestimated ticket sales for the event, but said 'operational problems' on the day meant 4,000 people got in without tickets. With tickets priced at £35 each it equates to a loss of £140,000.
Mr Mead said: "Many of the military vehicles and administrators who were due to be in place on Saturday did not actually turn up until Sunday.
"We could not open the gates at 8am on the day, as planned, to alleviate congestion, because the military vehicles were not in place and the health and safety manager said it was unsafe with big vehicles driving around.
"That meant large crowds built up outside and when the gates were finally opened at 9.25am there was a massive influx of people.
"Unbeknown to us, a pass was issued in advance which gave people free access. It was a piece of paper saying 'I have authority to get in'."
"Advance ticket sales did not suggest we would be in financial difficulty from the event and if we had had sold in excess of 22,000 we would have broken even at least."
A-List Lookalikes and Entertainment Limited, based in Yorkshire, which provided lookalikes Marilyn Monroe, Dame Vera Lynn, Charlie Chaplin and Winston Churchill on the day is owed £3,000 by CMc Media.
Director Danielle Watson said: "I think the whole thing stinks. They booked acts knowing damn well that they must be in some sort of financial difficulty. I know how my business is running week to week, so to books acts knowing you cannot pay is very unprofessional indeed.
"I am a one-woman business, not a huge company, and £3,000 is a lot of money."
Francis Rockliff, who directed the event, said: "I am trying to find new backers who might either rescue CMc Media or meet our outstanding bills as I don't want this year's success to be wasted since so many were responsible for giving over 20,000 people such a wonderful show for a second year."
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