Roxodus company files for bankruptcy
It won't come as much of a surprise that the organizers responsible for the epic fail of what was billed as an epic summer music festival is in eipic debt.
MF Live Inc., the company behind Roxodus, has filed for bankruptcy.
Documents filed with Insolvency Trustee Grant Thornton out of Toronto show the two men behind MF Live owe $18 million to more than 185 creditors as the list continues to grow.
Included are vendors, contractors and construction crews who were to prepare the site as well as ticket vendor Eventbrite who are owed $5 million.
Clearview Mayor Doug Measures says the township is also weighing their options as the bills continue to pour in from the cancelled four day event that was to feature dozens of iconic rock bands including Aerosmith, Kid Rock and Nickleback.
Despite original claims that the grounds were too wet to hold the event at the Edenvale airport, we have of course, since learned that the event did not generate sufficient ticket sales to cover expected costs leaving the company insolvent.
Ticket holders still looking for refunds can file to be a creditor.