Another failed festival is in trouble as Pemberton festival declared bankruptcy last week Music mogul Marc Geiger recently talked to Billboard about Pemberton.
“They should not be able to run away from this. You can’t do this much damage to the festival ecosystem and think you can get away with it,”
The festival is $16.7 million in debt and has no way to pay refunds to their ticket holders or vendors. With all the similarities to the ill-fated Fyre Festival, the outstanding question remains how did an established festival like Pemberton end up in the same position?
“This is just gross to me,” Geiger said. “These guys are declaring bankruptcy, but none of them are actually bankrupt. Their shell company is bankrupt. And now they want fans to pay the price. That’s not bankruptcy. That’s fraud.”
“I want each of them to know ‘I’m coming after you personally,’” he told Billboard. “We’re going to pursue all of these people to the full extent of the law.”
It will be interesting to see what lies in the future for Pemberton after a foul up like this. Stay tuned.
Source: Vancouver Sun
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