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Popular Australian music festival NYE In The Park has become the latest music event to collapse.
The New South Wales Supreme Court ordered ITP Music Pty Ltd, the company behind the event, into liquidation last week after it failed to pay its debts.
The court has appointed Vincent Pirina, of the bankruptcy company Aston Chace Group, as liquidator. news.com.au reported.
Flight Facilities, Lime Cordiale and Cut Copy have headlined the festival’s lineup since its launch in 2017.
There have also been no posts or activity on NYE In The Park’s social media pages since early 2023.
Popular Australian music festival NYE In The Park has become the latest music event to collapse
Logistics company Kennards Hire reportedly took legal action against NYE In The Park in February over an unpaid debt of an unspecified amount.
Bingo Commerical also took legal action against the music company over a $14,000 debt.
It is the latest in a long line of Australian music festivals to be scrapped, after Splendor In The Grass was canceled last week.
Kylie Minogue was due to headline the three-day music event in July, but organizers confirmed last Wednesday that they had to cancel the 2024 festival.
They confirmed that ticket holders will be refunded and said the three-day music event will “work hard to return” in the coming years as its future remains uncertain.
Groovin the Moo was also forced to cancel in February, just two months before its start.
The New South Wales Supreme Court ordered ITP Music Pty Ltd, the company behind the event, into liquidation last week after it failed to pay its debts.
In January, ValleyWays, a music festival featuring some of Australia’s biggest bands, was canceled just weeks before it was scheduled to take place.
ValleyWays was preparing to welcome revelers to Onslow Oval in Camden, south-west Sydney, on February 17, until it was announced it would not go ahead.
The festival was created in 2022 by Hottest 100 winners The Rubens in association with TEG MJR, a touring and events company who will tour with Hans Zimmer across Australia.
In the same month, Tent Pole Music Festival canceled its event just weeks before its start with organizers blaming the “impossible” economic climate.
There have also been no posts or activity on NYE In The Park’s social media pages since early 2023.