Facing a possible cash shortfall of over $10 million, B.C.'s Pemberton Music Festival (PMF) has been cancelled due to bankruptcy.
No formal notice has been given, but the concert has appointed global accounting firm Ernst & Young (E&Y) as the trustee to address the situation.
"Unfortunately there are no automatic refunds from PMF", it read.
It says ticket holders can file a claim as an unsecured creditor, but estimates that process would take several weeks to resolve itself.
Making matters worse, Lee reports there will not be automatic refunds for tickets purchased to the event, though some buyers may be able to receive refunds if they used a credit card.
The festival's lineup, released last month after several lengthy delays, was to feature headlining artists like Chance the Rapper, Muse, A Tribe Called Quest, MGMT, Major Lazer and Haim, among dozens of others.
He said the fest has made $8.23 million to date, at a budgeted expense of $22 million.
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He continued: "I think he did a great job of doing what he wanted to do". And he just proved you don't have to love the same music to be friends!
As a contract producer, Huka did not make the decision to cancel the Festival.
Jay-Z performs at the inaugural Pemberton Festival in 2008.
"Q: I purchased a ticket for the 2017 Pemberton Music Festival, can I get a refund from PMF or from a third party?".
Neilson said he believes the festival went bankrupt by bringing in USA firms and staff for the event and paying double or triple what local firms would have charged.
The documents state ticket sales in 2017 were down to an average of just over 18,000 per day, less than half of the over 38,000 per day sold past year.
Huka announced its revival for 2014, and headliners since have included Pearl Jam, Snoop Dogg, Kendrick Lamar and Outkast.
PMF now joins the Squamish Music Festival, which was cancelled a year ago. In fact, the festival has deleted their Twitter account.
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Cleanup after the festivals was a major task, but done quickly.
It also said that the festival is having difficulty sourcing talent because of "a limited number of artists touring in 2017".
The loss of the festival will come as a blow to the economy of Pemberton, a small city 150 kilometres north of Vancouver. Now obviously we've lost that.
"If you paid on credit card, that's going to be your best recourse because you can go through the chargeback process with the credit card because obviously the services won't be provided".
A full statement regarding Pemberton Music Festival's loss has been detailed on their website here, and is transcribed below.
But Mack said the community knew the festival's long-term future was precarious.
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