One of BC's biggest music events, the Pemberton Music Festival was expected to bring its enormous lineup to Pemberton, BC, this summer. Now, however, reports are brewing that the fest has been cancelled as its organizers have filed for bankruptcy.
While the festival has yet to file an official statement, Vancouver radio station CKNW first reported that the festival has cancelled its 2017 edition and filed for bankruptcy.
UPDATE (05/18, 9 p.m. EDT): Pemberton Fest has since deleted its Twitter account, and the festival's website has a bankruptcy notice. The site features plenty of legal speak about how refunds will not automatically be handed out.
A statement from the festival reads:
"For the past four years Huka Entertainment has worked to create a one-of-a-kind experience in the most beautiful place on earth. We are heartbroken to see the 2017 Pemberton Music Festival cancelled.
"As a contract producer, Huka did not make the decision to cancel the Festival. That decision was made by the Pemberton Music Festival, LP. We are extremely disappointed for our fans, artists and all of our partners who have supported the festival over the years."
The station's Matt Lee blamed the financial troubles on a "weakened Canadian dollar" adding that the fest has operated at a major loss. He said the fest has made $8.23 million to date, at a budgeted expense of $22 million.
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 station's Estefania Duran added that Pemberton allegedly owes its creditors $2.5 million USD, plus accrued interest and costs.
Pemberton was scheduled to run from July 13 to 16. Performers scheduled included Chance the Rapper, Muse, A Tribe Called Quest, Major Lazer, the Avalanches, HAIM, Run the Jewels, Diplo, Big Sean, Ween, Logic, Tegan and Sara, MGMT, Future Islands, Migos and many others.
While the festival has yet to file an official statement, Vancouver radio station CKNW first reported that the festival has cancelled its 2017 edition and filed for bankruptcy.
UPDATE (05/18, 9 p.m. EDT): Pemberton Fest has since deleted its Twitter account, and the festival's website has a bankruptcy notice. The site features plenty of legal speak about how refunds will not automatically be handed out.
A statement from the festival reads:
"For the past four years Huka Entertainment has worked to create a one-of-a-kind experience in the most beautiful place on earth. We are heartbroken to see the 2017 Pemberton Music Festival cancelled.
"As a contract producer, Huka did not make the decision to cancel the Festival. That decision was made by the Pemberton Music Festival, LP. We are extremely disappointed for our fans, artists and all of our partners who have supported the festival over the years."
The station's Matt Lee blamed the financial troubles on a "weakened Canadian dollar" adding that the fest has operated at a major loss. He said the fest has made $8.23 million to date, at a budgeted expense of $22 million.
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 station's Estefania Duran added that Pemberton allegedly owes its creditors $2.5 million USD, plus accrued interest and costs.
Pemberton was scheduled to run from July 13 to 16. Performers scheduled included Chance the Rapper, Muse, A Tribe Called Quest, Major Lazer, the Avalanches, HAIM, Run the Jewels, Diplo, Big Sean, Ween, Logic, Tegan and Sara, MGMT, Future Islands, Migos and many others.