Festival giant takes on £92.7m extra debt after pro-Palestinian boycotts
Superstruct faced artist walkouts and protests over its private equity owner’s investments linked to Israel
One of Europe’s biggest festival groups took on £92.7 million in extra debt after its events became the target of pro-Palestine boycotts over its owner’s investments linked to Israel.
Superstruct, which runs major UK festivals including Field Day, Cross the Tracks and Victorious, raised €109m (£92.7m) in additional debt in the year to December 2025, according to accounts reported by The Telegraph.
The company also recorded losses of €111.3m (£94.7m), up from €77.6m (£66m) the previous year, while total borrowing reached €392.5m (£333.6m).
The figures follow a sustained campaign against Superstruct since private equity firm KKR bought the festival business in 2024. Carlyle and CVC were also among the investment groups reported to have explored a takeover before the sale to KKR.
Pro-Palestinian activists have since targeted Superstruct because of investments held by KKR in companies with links to Israel.
KKR’s portfolio includes a data centre company operating in Israel, although the investment firm does not have direct investments in Israeli arms companies or in the occupied territories, according to The Telegraph.
The controversy also reached Britain.
Victorious Festival in Portsmouth faced artist withdrawals after a performance by a band leading chants of “free Palestine” was cut short.
Irish folk group The Mary Wallopers later unfurled a Palestinian flag during their performance before their microphones were switched off.
Several other acts subsequently pulled out in protest, with festival organisers later apologising and offering to make a donation to Palestinian relief efforts.
Despite the increased debt and losses, Superstruct’s sales rose 4.4 percent to €825m (£700m), and its directors said there were no concerns about the company’s financial health.
A Superstruct spokesperson told The Telegraph: “2026 has been a year of growth, transformation and strong performance, with fans across our events enjoying extraordinary live experiences.
“2025 was a period of significant change, with a new management team coming in towards the end of that year. We’re very pleased with the progress and the trajectory the business is on.”