A popular NSW music festival, hosted over New Year’s Eve, is on the chopping block after it fell into liquidation.
NYE In The Park, held in Sydney’s CBD, has entered a court-ordered liquidation, according to a recent ASIC listing.
The long-running festival held at Victoria Park has previously hosted popular acts including Flight Facilities, San Cisco and Lime Cordiale.
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The festival was ordered by the Supreme Court to wind up their operations following a hearing last Thursday.
The winding up orders against the festival were first applied for by logistics company Kennards Hire on February 1.
It comes as a fresh blow for Australia’s live music scene, with hugely popular Splendour in the Grass as well as Groovin the Moo cancelling their 2024 shows.
Splendour in the Grass, an annual music festival which is held at the North Byron Parklands in northern NSW, was due to be staged from July 19 to 21.
Tickets went on sale on March 21, with Australian pop superstar Kylie Minogue among the artists set to perform.
However, organiser Secret Sounds issued a statement last Wednesday confirming the cancellation and promised refunds for ticket holders.
Australian Festival Association managing director Mitch Wilson said the soaring price of running a large music event was making it increasingly difficult for the industry to operate.
“The Australian music festival industry is currently facing a crisis and the flow-on effects will be felt across the local communities, suppliers and contractors that sustain our festivals and rely on them to support their livelihoods,” Wilson said.
“If we all step back and let market conditions determine our future, cancellations will continue.”
7NEWS.com.au has contacted NYE In The Park, as well as Kennards Hire, for further comment.
– With AAP
