Company Behind Failed Roxodus Festival Files For Bankruptcy
The company behind the failed Roxodus music festival filed for bankruptcy on Friday in Hamilton, Ont. owing a little more than $7 million to creditors – including a handful of homegrown music acts.
The biggest unsecured creditor listed is Eventbrite, which is owed $5 million. The California company used a special fund it created to reimburse fans for passes they purchased. Canadian company Intellitix, which was providing wristbands that could be loaded with cash for on-site purchases, is listed as being owed $87,576.41.
In all, MF Live Inc. claims it has $18.3 million in liabilities and only $154,075 cash. It owes $11.1 million to two companies owned by MF Live Inc. partner Fab Loranger.
"The event did not generate sufficient ticket sales to cover the expected costs," the trustee's FAQs document states. "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."
While Roxodus headliners were paid in advance, a number of smaller bands were left with nothing. According to the bankruptcy application, MF Live owes Honeymoon Suite and Saga $10,000 each, the Headpins $8,750, and Strange Advance $6,000.
Neil Ryan Group Productions, the U.S. company hired to do production design for Roxodus, is owed more than $120,000, according to documents. A little more than $70,000 is owed to Starline Production. Star Security is owed $522,596.62 and Nature’s Call is owed $250,426.
MF Live owes Horseshoe Resort $86,540.52 and $59,000 to another hotel. Creditors also include celebrity chefs Lynn Crawford ($11,300) and Massimo Capra ($8,475).
The first meeting of creditors is scheduled for 10 am on July 30 at the Toronto office of trustee Grant Thornton, which stated: "A ticketholder who purchased tickets via Eventbrite and is refunded by the Eventbrite Fan Relief program would not be a creditor and, therefore, not have standing to attend the meeting."
Check out the full list of creditors here.
(CTV Toronto, part of Bell Media, is owed $32,544 and the Bell Media Radio Group is owed $3,107.50. iHeartRadio Canada is part of Bell Media.)