Earlier this month, Mountain Sounds festival announced its cancellation just one week out from the event. The festival cited The NSW Governments and Premier Gladys Berejiklians war on festivals as the reason for its cancellation. Industry whispers also suggested that the festival suffered poor ticket sales.
Now,Music Feeds has reported that the festival is in liquidation. According to the report published, Mountain Sounds owes hundreds of creditors over $1.5 million. Of that sum, $893,000 is owed to ticketing company Eventbrite, whilst the ATO is owed $89,000. Artists on the bill are also reportedly owed money, with Courtney Barnettowed almost $100,000.
The report notes that the festival has just over$130,000 in assets, and Insolvency firm…
Read the full article at: https://theindustryobserver.thebrag.com/mountain-sounds-debt/