Latest News

Back to Latest News back

 

FOMO music festival enters liquidation with $5 million owing

FOMO music festival enters liquidation with $5 million owing
May 21, 2020

Popular Brisbane-based music festival FOMO has collapsed owing $5 million to creditors.

The national one-day event was wound up last week, with creditors advised the festival was "resolved by special resolution on 15 May 2020," according to documents obtained by The Music.

Hall Chadwick, who are handling the liquidation, told The Music that creditors could be owed up to $4,848,496 and is investigating "all assets and recoverable avenues of the company for the benefit of its creditors and investigating the Company’s affairs.

A creditors report is expected "within three months," according to a spokesperson, including "the likelihood of any dividend to creditors and any possible action that may be taken for the benefit of the company’s creditors."

FOMO festival's accounts on Instagram, Twitter, and Facebook have already been deleted.

FOMO first launched as a one day event in Brisbane in 2016, with the slogan 'One Stage, No Clashes'.

The following year it expanded to Adelaide, Sydney, and a special mini-festival in Melbourne that later grew to a complete event in 2019.

Government restrictions on mass gatherings through the Coronavirus crisis have had a massive impact on festivals and live performance with industry bodies calling for government support.

Image courtesy of FOMO.

Related Articles

20th May 2020 - Modified Darwin Festival to be a local celebration of strength and resilience

13th May 2020 - Woodford Folk Festival founder Bill Hauritz says event will survive

11th May 2020 - Live Nation says no return to ‘full scale’ concerts until 2021 as it looks to drive-in events

6th May 2020 - Falls Festival looks to 2020/21 editions with all Australian lineup

4th April 2020 - LPA believes funding still not enough to prevent decimation of live performance industry

29th March 2020 - New Australian Government regulations demand public gatherings of no more than two people

28th March 2020 - Major entertainment promoters call for Australian Government support through Coronavirus crisis

23rd March 2020 - LPA seeks targeted financial stimulus for live performance industry

17th March 2020 - LPA calls for $850 million live performance support and stimulus package

13th March 2020 - Live Performance Australia calls for urgent government action to protect $2.5 billion industry

17th August 2016 - Eventbrite research shows Australians love festivals


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

AlphaFit

AUSTRALIAN MADE. FIT FOR PURPOSE. AlphaFit is a 100% Australian owned family company manufacturing gear specifically for the strength and conditioning, functional fitness and high-performance…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

Summit Fitness

Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/

read more

Fitness / Recreation / Technology / Wellness

 
 

Aflex Inflatables

Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…

read more

Aquatics / Play / Waterparks

 
 

Sportybots

We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…

read more

Fitness / Play / Recreation / Sport / Wellness

 
 

Perfect Gym

Perfect Gym Solutions is a software as a service (SaaS) solution purpose-built to service the fitness industry, with over 1000 clients servicing over 2 million gym members across 40 countries making…

read more

Access / Fitness / Marketing / Recreation / Technology

 
 

ICP

ICP is an Australian-based company focused on indoor climbing. ICP will manage your project from initial design to completion and beyond, whether you're building an international-level climbing…

read more

Attractions / Fitness / Recreation

 
 

Altitude Training Systems

ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help all athletes gain the competitive edge. Our…

read more

Fitness / Sport / Technology

 
 

GEOFF NINNES FONG AND PARTNERS

Geoff Ninnes Fong & Partners (GNFP) is a structural, aquatic and civil engineering consultancy with broad experience in the design of new municipal and institutional swimming pools, hydrotherapy…

read more

Aquatics / Consultants / Design / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business