The organizers behind the canceled Canadian Roxodus Festival have filed for bankruptcy with nearly $14 million (USD) owed to creditors. According to liquidator Grant Thornton Limited, the festival that was abruptly nixed days before it was set to begin owes around 200 creditors, with the largest debts owed to contractors Taurus Site Services and ticketer Eventbrite.
"Our dream of producing a ‘once in a lifetime experience’ has been put on hold as we take the much-needed time to nurture our venue into a premier landmark in Ontario," Roxodus producer MF Live said in statement on July 3. "We sincerely thank all of the artists, sponsors, partners, and neighbors who have supported us from the very beginning. The embrace from our community has meant the world to us and we hope to one day see our dream come to life."
MF Live owes Eventbrite nearly $4 million and Taurus roughly $8.5 million for an advance on ticket sales for the four-day festival that was slated to take place from July 11-14 at Edenvale Aerodome in Ontario. MF Live canceled the rock festival on July 3 and filed for bankruptcy on July 12.
"We understand that the event did not generate sufficient ticket sales to cover the expected costs, leaving MF Live Inc. insolvent," said an open letter by Grant Thornton to creditors. "We also understand that earlier wet weather posed certain challenges in preparing the site for the event and prevented MF Live Inc. from being able to host a safe event."
According to bankruptcy filings, MF Live has less than $120,000 USD in cash with a long list of food vendors, consultants and more seeking repayment for their participation in the event that was scheduled to see performances from Nickelback, Lynyrd Skynyrd, Kid Rock, Aerosmith, Alice Cooper, Billy Idol and Blondie.
Days after MF Live canceled the festival, Eventbrite announced on July 6 that they would be providing refunds for ticket holders who purchased passes through the ticketer.
"After multiple attempts to communicate and secure funds back from the Roxodus organizers, they have provided no indication that they will refund ticket holders," Eventbrite said in a statement.
"We believe attendees deserve to get their money back now, so we have set up an Eventbrite-funded Fan Relief Program to make all Roxodus ticket holders whole while we continue to aggressively pursue the return of funds from the festival's creators. We are transferring funds to ticket holders immediately and they can expect to see it reflected on their credit card or bank statement within seven business days."
Fans who did not purchase tickets through Eventbrite can file as a creditor with trustee Grant Thornton. The first meeting of creditors is scheduled for July 30 at 10am ET at the Grant Thornton offices in Toronto.