According to some reports earlier in the week, Bestival have called in the administrators, while the organisers themselves have claimed (perhaps euphemistically) to be merely suffering from "financial challenges". What seems beyond dispute is that the problems have been caused by the withdrawal of support from a major backer - though the inclement conditions that blighted this year's Camp Bestival event and (I gather) a relatively poor turnout for Common People in Oxford can't have helped.
In a tweet, founder Rob da Bank remained bullish about Bestival's various manifestations - "The show must go on! And will ... fear not and keep the faith" - and, as Ronan of Nightshift commented, it would be a blow if Common People was axed given the support that Rob and his team have shown to the Oxford scene.
That said, in focusing on the future we shouldn't neglect the past. Some friends who played Common People and who were all set for Camp Bestival until the weather pooped the party have confirmed that they're still waiting for payment, and not hopeful of getting anything much. If a new incarnation of Bestival does plough on in 2019, here's hoping that the old incarnation doesn't leave performers out of pocket.