Australian music fans have lost yet another music festival.
As reported by news.com.au, Sydney’s NYE in the Park has gone into liquidation following orders by the NSW Supreme Court.
It’s reported that the move came after Kennards Hire took legal action against the new year’s event over an unpaid debt, with the court appointing insolvency firm Aston Chace Group as the liquidator.
The festival, which debuted in 2017 at Broadway’s Victoria Park, has hosted a number of big-name local acts, including PNAU, The Presets, Lime Cordiale, Flight Facilities and Vera Blue.
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The event’s social media and website pages have been shut down.
Mumbrella has contacted festival organisers for further comment.
It comes only a week after Splendour in the Grass called off its 2024 event shortly after announcing its line-up due to “unexpected events”, while the regional Groovin the Moo festival also axed its events this year in February.
The news prompted the Australian Festival Association (AFA) to call on government for support due to the “crisis” facing the local music industry.
“Some festivals have seen strong ticket sales this summer, but with costs up 30-40% across the board and affordable insurance difficult to obtain, margins are tight,” AFA managing director, Mitch Wilson, said last week.
“Festival organisers haven’t raised ticket prices to offset or meet these increases due to cost-of-living challenges being faced by everyone.
“We need government at the table to help us through this period and assist in stabilising our industry to sustainable levels. This needs a national approach.”
