Thousands of pounds of cash from Boston businesses has been sacrificed for an event which was cancelled with no insurance in place.
Around £13,000 has been lost to the Boston Beat event, which was called off weeks before it was due to take place last June because of bad weather.
The money had been pre-paid by Boston Business Improvement District (BID) to Grantham-based management company Infodex which took control of the event – but did not provide cover in case of complete cancellation.
At BID’s annual general meeting last Tuesday, chairman Alan Ellis said: “We had all the other insurance in place, but it was not insured against cancellation. We never expected the whole thing to get cancelled.”
It was revealed it would have cost £4,000 to insure the Central Park-based event, which had already been postponed once because of issues with access.
“We don’t have that sort of money,” Mr Ellis said, adding that work was ongoing to try to retrieve the funds, but it was unlikely the company would get it back.
But, at the meeting, BID members questioned why the insurance was not in place to protect the cash – which came from the levy they pay.
One told the chairman: “It would have been money well spent. It’s £13,000 down the swannee.”
Another added: “You paid (the company) £13,000 and there was no checks or provisions to see what sort of cover there was for cancellation on an event which had already been cancelled once. I am amazed.”
The family event was originally booked for the previous September, but was delayed after it was revealed it would conflict with the market, which had been moved to Wide Bargate during improvement works on the Market Place. It was due to include live music and entertainment.