Festivals owe over $2.4 million to creditors

Three companies related to the canceled Juicy Fest and Timeless Summer Tour music festivals owe more than $2.4 million, according to initial reports from liquidators. The festivals were set to take place in January but were called off in December. Things are looking bleak for ticketholders hoping for refunds. A Tauranga couple, who lost $400, expressed their concern that the chances of getting their money back are "extremely low." The Timeless Summer Tour was to feature popular 80s stars like Boy George and Bonnie Tyler. The Juicy Fest was set to host artists such as Ludacris and Akon. On March 7, the three companies involved were placed into voluntary liquidation following a special resolution by their shareholders. Liquidators Ben Francis and Garry Whimp from Black Rose Limited were appointed to oversee the process. Unsecured creditors, including ticketholders, are being urged to register for the liquidations.