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FOMO Festival enters liquidation, with around $5 million in debt

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A 2017 press shot of FOMO Festival

In sad news for Australia's summer music festival season, FOMO has entered into liquidation.

The COVID-19 pandemic and government restrictions on mass gatherings have already made the future of festivals uncertain, but this announcement means FOMO definitely won't be returning for 2021.

The national one-day event was wound up last 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 completely vanished.

BBE, the promoters behind FOMO, have also taken down their social media accounts. triple j has contacted BBE for comment.

Bad news, we may be looking at no festivals for two summers

FOMO first launched in 2016, as a one-dayer in Brisbane, boasting the tagline 'One Stage, No Clashes' with sets from Jamie xx, Skepta, RL Grime and more.

The following year it expanded to Adelaide, Sydney, and a special mini-fest in Melbourne that later grew to a full blown leg in 2019.

They've assembled some great line-ups in their five-year run, bringing out big name internationals like Post Malone, SZA, Mura Masa, Nicki Minaj, Rae Sremmurd and most recently, BROCKHAMPTON, Lizzo, Kaytranada.

The news follows the cancellation of Bluesfest, which triggered anger from small businesses who'd paid to hold stalls there. More below.

Bluesfest accused of being 'unethical' for refusing to refund stallholders at cancelled festival
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Music (Arts and Entertainment)