The rumors are most definitely true. Facing a possible cash shortfall of over $10 million, Pemberton Music Festival, located in British Columbia, has been cancelled due to bankruptcy. The festival was in need of $22 million dollars in order to generate enough funds to survive. As of May 17th, only $8 million dollars had been raised.
The cancellation comes just two weeks after the festival revealed a lineup consisting of Chance the Rapper, Muse, A Tribe Called Quest, Major Lazer, MGMT, Future Islands, Zeds Dead, Migos and many more. As of May 17th, tickets were still available for purchase.
Along with the sudden cancellation, the Pemberton organizers put out a statement claiming no automatic refunds would be offered at this time.
“As PMF is now in bankruptcy, it has no ability to provide refunds for tickets purchased. However, ticket holders may file a proof of claim form as an unsecured creditor with [Ernst & Young] in accordance with the claims process.”
As you could predict, fans were not to pleased with the decision Pemberton made. After delaying their initial lineup, the festival struggled to generate enough steam to continue. The question fans should be asking is why the festival continued to sell tickets when it knew it was close to filing for bankruptcy. As artist cost continue to rise, it seems putting on festivals is becoming harder and harder. Pemberton joins a long list of North American festivals that have shuttered its doors.
The festival was scheduled to take place from July 13 to 16. Further information is available at pembertonmusicfestival.com.
C/C: Global News
The rumors are most definitely true. Facing a possible cash shortfall of over $10 million, Pemberton Music Festival, located in British Columbia, has been cancelled due to bankruptcy. The festival was in need of $22 million dollars in order to generate enough funds to survive. As of May 17th, only $8 million dollars had been raised.
The cancellation comes just two weeks after the festival revealed a lineup consisting of Chance the Rapper, Muse, A Tribe Called Quest, Major Lazer, MGMT, Future Islands, Zeds Dead, Migos and many more. As of May 17th, tickets were still available for purchase.
Along with the sudden cancellation, the Pemberton organizers put out a statement claiming no automatic refunds would be offered at this time.
“As PMF is now in bankruptcy, it has no ability to provide refunds for tickets purchased. However, ticket holders may file a proof of claim form as an unsecured creditor with [Ernst & Young] in accordance with the claims process.”
As you could predict, fans were not to pleased with the decision Pemberton made. After delaying their initial lineup, the festival struggled to generate enough steam to continue. The question fans should be asking is why the festival continued to sell tickets when it knew it was close to filing for bankruptcy. As artist cost continue to rise, it seems putting on festivals is becoming harder and harder. Pemberton joins a long list of North American festivals that have shuttered its doors.
The festival was scheduled to take place from July 13 to 16. Further information is available at pembertonmusicfestival.com.
C/C: Global News
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