The founders of Camp Bestival have announced that they’re ‘back in control.’

A statement was published on the Camp Bestival website today and says: “Josie and Rob da Bank are thrilled to finally announce today that they are back in control of Camp Bestival - the magical family festival they created 11 years ago.

“With the help of Live Nation Gaiety and SJM we will really be able to bring more of our creative vision to life with the support structure needed going forward. Our aim has been and will always be to create the best ever family festival. We look forward to sharing this new chapter with you. More news very shortly.”

It comes after the music festival was forced into administration by creditors last month.

Creditors Richmond Group bought the festival and its assets for £1.1m.

The deal was reached after Camp Bestival admitted it was facing ‘financial challenges.’

A statement from the festival’s organisers was posted on its website towards the end of September.

It said: “We can confirm the Bestival Group has had some financial challenges of late but the process we are in allows a new partner to come on board with the financial commitments required to deliver Camp Bestival 2019 in its finest form.

“As we stand currently, there is every intention to make this show happen, and move forward into a new era.”Thanks and love to all our wonderful Camp Bestival community for all your support X”.

Live Nation, which holds stakes in a number of festivals across the UK, will now work with SJM and organisers to deliver the festival next year.

Camp Bestival, described as the event’s “little sister”, is a family-friendly offshoot which has been based at Lulworth since its beginnings in 2008.