THE REVENUE Commissioners are seeking to wind up the company that promoted last year’s Electric Picnic festival, two country music festivals and a dance music festival over unpaid Vat of almost €800,000.

Pod Concerts, which is owned by music promoter John Reynolds, will face a winding up application in the High Court on July 13th after the Revenue lodged a petition with the court last Monday.

The company said that Pod Concerts had no association with this year’s Electric Picnic festival, any upcoming shows produced by Pod, , or any of the Pod’s venues. The company said the petition would not affect this year’s Electric Picnic festival.

Pod Concerts promoted the Midlands country music festival in 2006 and 2007, Lovebox dance music festival in 2007 and the Electric Picnic festival until 2008.

The firm said Electric Picnic is now owned and run by a company called EP Republic, which was formed when Mr Reynolds sold part of the festival to UK promoter Festival Republic earlier this year.

It is understood that Pod Concerts owed the Revenue €1.2 million last year, but paid almost €500,000 in March. The company sought to pay the remaining debt over time but Revenue refused.

Pod Concerts said it had been in talks with the Revenue and its creditors with a view to paying its debts and “sought time” from the Revenue “in order to execute this”.

“This has not been forthcoming from them, even after paying them a substantial down payment in March and putting a payment plan to them for full execution over 16 months,” the company said.

“This policy seems at variance with a stated objective by the Revenue Commissioners in February this year of working with businesses and allowing them an instalment arrangement over a period.”

A Revenue spokesman could not be reached for comment.