The July 13-16 festival in Pemberton Valley, British Columbia, would have marked the fifth edition of PMF. The lineup was supposed to feature dozens of artists, including Chance The Rapper, Muse, A Tribe Called Quest, Major Lazer, Haim, and Run The Jewels.
The festival was being produced and promoted by
– Lineup Poster For 2017 Pemberton
Huka Entertainment released the following statement in response to today’s news: “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 canceled.
“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 splash page on the festival’s website has been replaced with a notice about the bankruptcy which says Pemberton Music Festival will not be issuing automatic refunds for tickets “as PMF is now in bankruptcy, it has no ability to provide refunds.” The website notes that ticketholders can “file a proof of claim form as an unsecured creditor with EYI [bankruptcy trustee Ernst & Young Inc.] in accordance with the claims process.” Ticketholders are advised to contact their bank or credit card issuer to see if refunds are available from third parties for tickets purchased using a credit card.
Global News reports that the festival owes $2.5 million to its creditors. The publication says festival directors are blaming the money problems on decreased ticket sales and increased operating losses.
The festival has reportedly collected $8,225,000 in ticket revenue this year – in contrast to the budgeted expenses of $22,000,000.
Organizers are also reportedly pointing a finger at the impact of a weakening Canadian dollar relative to the U.S. dollar, according to Global News.