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We have obtained documents confirming that Pemberton is filing for bankruptcy.
According to the official documents received from Earnst & Young Trustee and Bankruptcy company.
"The Pemberton Music Festival has been significantly impacted since 2015 by a weakening Canadian dollar relative to the US dollar as many of its entertainment costs are denominated in $US dollars. In addition, the Pemberton Music Festival experienced increasing difficulty in sourcing talent for the 2017 festival due to a limited number of artists touring in 2017."
Documents also explained the process of ticket refunds.
"Q: I purchased a ticket for the 2017 Pemberton Music Festival, can I get a refund from PMF or from a third party?
A. Unfortunately there are no automatic refunds from PMF. As PMF is now in bankruptcy, it has no ability to provide refunds for tickets purchased. However ticketholders may file a proof of claim form as an unsecured creditor with EYI in accordance with the claims process. Proof of claim forms will be mailed to known PMF creditors in due course and made available on the Trustee’s website at: www.ey.com/ca/pmf. A determination of recovery, if any, on the claims of ticket holders from the estate will not be known for several weeks. The Trustee will provide an update to creditors in due course. Also, refunds may be available to ticketholders from third parties if tickets were purchased using a credit card. As each bank and credit card issuer have their own specific policies, ticketholders are to contact their bank or credit card issuer directly to determine whether a refund can be obtained."
(UPDATE: 4:10 p.m.) - Pemberton Music Festival has deleted all of their social media channels.
(Original Story: 4:00 p.m.)
Social media is exploding with reports that the 2017 Pemberton Music Festival has been canceled.
The @Pemberton_Fest has been cancelled, organizers file for Bankruptcy. Good luck getting a ticket refund. #PembyFest pic.twitter.com/acXB9uXXoI
— drex (@drex) May 18, 2017
Breaking: 2017 Pemberton Music Festival canceled. Ernst & Young appointed trustee in bankruptcy. Details to follow. @GlobalBC @CKNW
— Jill Bennett (@jillreports) May 18, 2017
Blair Mantin of @SandsTrustee says tickets holders will be lucky to get pennies on the dollar back #PembyFest #cancelled šš½ https://t.co/5Llvefdkoc
— drex (@drex) May 18, 2017
So you put this out in the twitterverse yesterday, but cancelled the fest today?! And not offering refunds? #PembyFestSucks #PembyFest #FU https://t.co/dwu1vBkkDw
— strimby (@strimby) May 18, 2017
#PembyFest https://t.co/AnOOEstzvP
— nightMair Creative (@nightMairC) May 18, 2017
BREAKING NEWS - @Pemberton_Fest 2017 has been cancelled. Organizers have filed for bankruptcy. #PembyFest
— AM 1150 (@AM1150) May 18, 2017
The festival, which was due to take place July 13 – 19 in Pemberton, BC had previously confirmed a lineup that included Chance the Rapper, Muse and A Tribe Called Quest.
However, now it looks like festival-goers will be disappointed. Those fans might be in for more bad news, as at the time of writing it cannot be confirmed whether tickets will be refunded.
The cancellation follows hot on the heels of the Squamish Music Festival which was axed last March.
We will update the story as more information becomes available.
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