Creditors decline offer from Insomnia organisers Player1 Events as liquidation looms, and community bids farewell to gaming festival during what would’ve been i73
Dom Sacco, Senior Editor
Last Updated: 19/05/2025
Some of the major creditors owed money by Insomnia Gaming Festival have declined an offer from organisers Player1 Events.
While some smaller creditors (including content creators and freelancers) started receiving what they were owed by Insomnia back in June 2024, several larger entities are still owed money.
Insomnia/Player1 Events parent company Supernova Capital had hoped to offer creditors a Company Voluntary Arrangement (CVA), which, in theory, would’ve provided a greater return to creditors than the previously planned Creditors’ Voluntary Liquidation (CVL).
However, several major creditors declined an offer from Player1 Events, which Esports News UK understands was for around just 10% of what they are owed.
These creditors included HMRC, Jagex, Protec European Events Limited, UV&S Event Services Ltd, Fragers, Fie Star Crew Co Ltd, West Berkshire Council and High Viz Media Group Ltd.
Jagex and HMRC are owed the most – some £163,000 and £155,000 respectively.
Just under £4.7m is also owed to intercompany creditors, meaning other Supernova companies, including Supernova Capital LLP, Supernova Capital Two Limited and Supernova Management Limited. These, of course, did not vote against the CVA proposal.
This all came about after Supernova Capital co-founder Paul Wedgwood set aside his own rights as a creditor in a bid to try and get more money to others. According to an email sent to creditors by Novacorp Management Limited, and shared by some sources to Esports News UK, he made donations to ensure smaller creditors were paid outside of the proposed CVA process, and personally injected additional funds after selling personal assets not connected to Player1 Events.
Novacorp Management Limited, a company owned by Paul Wedgwood, also apologised to creditors for the situation, saying they negotiated with HMRC (including offering to share profits with all creditors over several years), but that HMRC refused to reverse its decision.
A virtual meeting will now take place on September 17th 2024 to proceed with the liquidation of Player1 Events.
The news of course comes after mass redundancies were made at Player1 Events back in May, and the Insomnia Gaming Festival company started the liquidation process, with some £8m owed overall.
Community laments loss of Insomnia Gaming Festival during what would’ve been i73
Insomnia73 (aka i73) was previously due to take place this weekend, from September 5th to 8th 2024.
With Player1 Events now entering liquidation and all staff having been made redundant, Insomnia is officially no more.
RuneFest was also supposed to take place alongside i73, and that has now been postponed to next year, with the RuneFest 2025 dates, venue and ticket info being announced a few months ago.
Here’s a selection of tweets made from the UK esports, streaming and gaming community over the past week or so thinking about what would have been i73.
🧵With #i73 weekend upon us, my heart is heavy. I should be in a hotel room getting ready for the day, but I’m not. Insomnia has been in my life since 2017. It was my introduction to streaming from @ReaperSteve1 at #i61. I’ve grown up with it being a crucial part of my event pic.twitter.com/peJ2hAxtvQ
— ✨Ginny✨ (@_Ginny776_) September 7, 2024
Everything reminds me of her.@IGFestUK #insomnia73 #i73 pic.twitter.com/T1neiuQu0C
— Blitzy 📺 💚 (@TheOGBlitzy) September 6, 2024
Insomnia is dead
— ItsActuallyAlan 🔜 Gamescom (@ItsActuallyAlan) September 7, 2024
What lives on is the friendships born from it, and although #i73 didn’t happen,
we held our own ‘Notsomnia’ with many pals travelling to Birmingham anyway to have an incredible time (SO to @evolo_villar who made the shirts!)
What a crew, roll on Notsomnia #2 pic.twitter.com/29vso8craT
We’ve not said much on the Insomnia situation because it wouldn’t have been right to before. But this weekend of course would have #i73.
— EPIC.LAN UK Gaming & Esports Events (@EPICLAN) September 6, 2024
Quite simply, EPIC.LAN wouldn’t have existed if Insomnia hadn’t paved the way. A visit to a LAN party in 2001 inspired us to create what we…
Really missing @IGFestUK this weekend for what would've been #i73.
— Troy (Red Archer Live) (@RedArcherLive) September 8, 2024
Looking through some of the photos and remembering how fun #i72 was it bittersweet, but definitely more on the sweet side. I'll always cherish that weekend and everything about it ❤️ pic.twitter.com/0kESC2kBq7
Who am I seeing at the Pub Quiz tonight then? Never need an excuse for a mega pint or two!! 🍻🥹♥️ #Insomnia #Insomnia73 #i73 pic.twitter.com/1D9UmXXdSh
— Hannah (@HannahDeTagger) September 6, 2024
Why is everyone talking about #i73
— Soul_Render 🐢 (@TtvSoul_Render) September 6, 2024
Just gunna sit here and cry 🥲 pic.twitter.com/A8YC8Miw65
Seeing everyone post about insomnia festival is making me upset that I don't get get to see the people I only see twice a year 😔
— MiniKill (@MiniKill89) September 4, 2024
I hope that we can have another event like it again soon…
Miss you gang ♥️ pic.twitter.com/YNY7qGXIxS
Should be at @IGFestUK right now pic.twitter.com/f0fD4zl0CV
— Chambourine 🏳️🌈🏴 (@chambourine) September 3, 2024
In honour of what would have been the first live day of Insomnia73 I’ll be rocking these at work today #RIPnomnom pic.twitter.com/t7l8EA3yeZ
— PhrendlyPhil (@PhrendlyPhil) September 6, 2024
This time last year we were packing and wrapping all of our stuff from i71 for what would be the last summer @IGFestUK – honestly, heart wrenching after doing God knows how many since i48 (I think?)
— Andy Welsh 👓 (@imandywelsh) September 8, 2024
🦒 pic.twitter.com/570OySF80q
God dam i miss @IGFestUK probably one the best convention ever I get to see all of my online friends and meet new people I’m so sad that it’s never going to happen again 😭😭😭😭 pic.twitter.com/QNy0FAoWyP
— mrjamigaming 🔜 formatgg in Liverpool (@MrJamigaming) September 7, 2024
And just like my watch is over! It's been a wild one as always. Thanks for coming to i73! See you at 74!!! pic.twitter.com/3P5ebhZK0G
— Matt | WhenisMatt? (@DatedRhyme) September 8, 2024
Well that's a wrap for #i73 made some incredible memories and met even more incredible people! Thank you for having me and bring on #i74🥳
— JoJoy (@_ItsJoJoy) September 8, 2024
Seriously though, although #i73 @IGFestUK didn't happen this weekend this festival will go down in history as one of the BEST UK gaming… pic.twitter.com/xu7ifJsF6n
So long and thanks for all the memories, Insomnia. You might be gone, but you certainly won’t be forgotten.
Related article: Esports winners roundup from i72, the last ever Insomnia Gaming Festival
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Dom Sacco, Senior Editor
Dom is an award-winning writer and finalist of the Esports Journalist of the Year 2023 award. He has almost two decades of experience in journalism, and left Esports News UK in June 2025. As a long-time gamer having first picked up the NES controller in the late '80s, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV and others. He also previously worked as head of content for the British Esports Federation.
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