Organiser Hyve Group has taken the decision that the show cannot take place in the current climate.
Toy World has learned that the Autumn Fair, due to take place at the NEC in September, has been cancelled, a move which has been widely anticipated for some time. While there has been no official announcement as yet, several exhibitors have contacted Toy World to confirm that they have been told by a representative of the Hyve Group that the show will not take place in 2020, and that written confirmation of the cancellation will follow “in due course.” Dialogue is apparently now underway with exhibitors with a view to rolling bookings over to either the Spring or Autumn Fair events in 2021.
In separate news, Autumn Fair organiser Hyve Group PLC has received its first insurance pay-out relating to a cancelled event. According to media reports, the company is said to be engaged in “positive and constructive dialogue” with its insurers regarding event cancellation and postponement insurance. Hyve has so far submitted claims involving 17 of its cancelled events in the current fiscal year, which runs to the end of March 2021. An initial interim payment of £7.35m covering several of these claims has now been received. The insurance policy is reported to be subject to the application of policy excesses and to a per event limit which varies for each show, with an overall aggregate cap of £62m in respect of all insured events due to take place before 31st October 2020.
We will bring you any further information as and when we have it.