Leicester Comedy Festival has been held for more than 30 years but its operator has ceased trading.

The company that ran one of the UK's biggest comedy festivals has ceased trading. The directors of Big Difference Company - which ran Leicester Comedy Festival - announced "with great sadness" it had become insolvent and ceased trading. It comes weeks after it submitted a serious incident report to the Charity Commission over ongoing financial issues. The directors of the festival, which started in 1994, cited "increasing costs, a difficult funding environment, and significant pressures within the live comedy sector" as factors in its decision. Leicester City Council said it would work with promoters and venues "to ensure that an interim comedy festival programme can take place in 2027". Harry Hill, Matt Lucas, Graham Norton and Sarah Millican are among the well-known names who have performed at the event over the past three decades. "For 32 years, [the festival] has been an important part of the cultural and economic life of our region, showcasing comedy talent, attracting visitors, and supporting local businesses and venues," the directors said. "We acknowledge that this news will be deeply disappointing to staff, performers, venues, promoters and supporters." In May it emerged that hundreds of comedians had been unpaid following this year's festival, and in July an arts venue managed by the charity was repossessed due to the "non-payment of rent and insurance".