Abergavenny Food Festival organisers have applied for a £25,000 loan from Monmouth County Council after undergoing a financial loss following the cancellation of its 2017 Christmas market due to heavy snow on December 10.
The Food Festival in September attracts thousands of visitors to Abergavenny each year and the two events have been calculated to generate £4 million for the local economy. The Festival has been key to making Abergavenny and the surrounding area a major food destination.
Now in its 20th year, the organisation are seeking the one-off loan to cover the cancellation costs of the Christmas Market and to restructure its finances.
Any loan would be interest-free and would be paid back to Monmouthshire County Council over a four-year period.
A Monmouthshire County Council report said that providing the one-off loan would recognise an organisation that is “working to make Abergavenny a better place”.
“The festival has also had a big impact in determining Monmouthshire’s reputation as the ‘Food Capital of Wales’,” it adds.
Famous chefs and food writers such as Hugh Fearnley-Whittingstall and Tom Parker Bowles have previously appeared at the festival.
A final decision on the loan will be made by the council’s deputy leader, Cllr Bob Greenland on Wednesday 14th March 2018.Tags: Abergavenny Christmas Market Food Festival