A company that was part of what was the North East’s largest promoter of live music is being forcibly wound up after failing to pay a tax bill.

SSD Events & Marketing Limited, a subsidiary of the company formerly known as SSD Industries Limited, was faced with a winding up petition from HMRC in late September. A hearing took place at the High Court in London where Insolvency and Companies Court Judge Burton ordered the firm to be immediately wound up and the tax office’s costs be paid out of the assets.

An official receiver attached to the court was appointed liquidator to the business. SSD Events & Marketing Ltd was set up in 2008 and was originally registered to Akenside Studios on Newcastle Quayside.

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In subsequent years, the wider SSD group of companies went on to host some of the region’s highest profile concerts and festivals, including socially distanced festivals during the pandemic restrictions which featured acts such as Sam Fender and The Libertines. SSD also promoted events at Tyneside venues including the Riverside and Think Tank in Newcastle, and Tynemouth Surf Cafe, as well as festival Hit the North which was marred by allegations of sexual misconduct against director Steve Davis.

SSD Events & Marketing Limited was majority owned by SSD Industries Limited which became IG Industries in 2022 after an apparent deal with ticketing entrepreneur Paul Betesh. Mr Betesh’s Manchester-based company The Ticketline Network Limited is the current majority owner of IG Industries. It is described as one of Europe’s largest primary ticket agencies and offers admission to concerts across the country.

Companies House filings show IG Industries faced compulsory strike off action earlier this year which was later suspended and then discontinued. An HMRC spokesperson said: “We take a supportive approach to dealing with customers who have tax debts and only file winding-up petitions once we’ve exhausted all other options, in order to protect taxpayers’ money.”

ChronicleLive attempted to contact Steve Davis and Paul Betesh before publication.