“The founders of Shambala have transferred ownership of the music festival to its employees, making it the first event of its kind in the UK that is owned and controlled by its workers.”

“Kambe Events, the company responsible for the festival that has been held for 26 years, announced on Tuesday that the co-founders will hand the business over to the workers through an employee ownership trust (EOT).”

“In an increasingly commercialized festival landscape, we simply couldn't sell to venture capital investors or the big promotion companies,” said co-founder Chris Johnson. “As we explored alternatives, we fell in love with the employee ownership model.”