Estonia, Financial Services, Latvia, Legislation, Lithuania, Markets and Companies

PTAC informed that in the time period from July 2017 until October 2017 the European Consumers Information Center and PTAC received 15 complaints about two-day festival Retro Beach Fest 2017 in Lithuanian city Zarasai and Egor Kreed’s concert in Dzintari concert hall in Jurmala, Latvia, both organized by Sugar Media.

PTAC discovered that during the Retro Beach Fest 2017, the performing artists were not those as promised by the organizer, and the organizer had not reduced the ticket price or refunded tickets after receiving complaints from customers. PTAC thus concludes that the company not only has failed to comply with the service agreement, but has deceived consumers, providing false information on artists performing at the festival.

In total, 5,000 tickets were sold to the festival, the prices ranged from EUR 18 to EUR 29, and the estimated loss is at least EUR 90,000.

Egor Kreed’s concert planned on August 8 was cancelled, and only a part of consumers got their tickets refunded because Sugar Media had not transferred all the necessary funds to Bilesu Service ticket office. Thus, 61 tickets for a total sum of EUR 3,055 were not refunded.

PTAC has tried to contact Sugar Media several times, demanding to stop the unfair commercial practice and provide all the necessary information, but the company did not cooperate and did not settle the problems.

PTAC thus concluded that Sugar Media’s commercial practice is unfair and deceiving, and decided to fine the company with EUR 18,700.

According to Firmas.lv business database, Sugar Media was registered in Latvia in May 2016. Its share capital is EUR 2,800, and the company belongs to an Estonian citizen.

The company closed 2016 with EUR 187,003 in turnover and EUR 742 in profit. According to the State Revenue Service data, on March 7, Sugar Media had a tax debt of EUR 14,920, and the company’s value added tax (VAT) certificate has been annulled.