NYE In The Park has become the latest popular Australian music festival to collapse.
The NSW Supreme Court ordered ITP Music Pty Ltd, the company behind the event, into bankruptcy last week after it failed to pay its debts.
The court has appointed Vincent Pirina of insolvency company Aston Chace Group as curator. news.com.au reported.
Flight Facilities, Lime Cordiale and Cut Copy have all headlined the festival 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.
NYE In The Park has become the latest popular Australian music festival 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 Commercial also took legal action over a reported $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 they had to cancel the 2024 festival.
They confirmed ticket holders will get their money back and said the three-day music event will be “working hard to be back” in the coming years as its future remains uncertain.
Groovin the Moo was also forced to cancel in February, just two months before it was set to launch.
The NSW Supreme Court ordered ITP Music Pty Ltd, the company behind the event, into bankruptcy 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 due to take place.
ValleyWays was preparing to host revelers at Onslow Oval in Camden, south-west Sydney, on February 17, until it was announced it would not go ahead.
The festival was founded in 2022 by Hottest 100 winners The Rubens in partnership with TEG MJR, a touring and events company that will see Hans Zimmer touring Australia.
The same month, Tent Pole Music Festival canceled their event just weeks before it was due to start, along 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