Popular end-of-year music festival enters liquidation

The operator of a popular Sydney CBD music festival has gone into liquidation after a hearing in the Supreme Court last week.

NYE In The Park, an annual New Year’s Eve festival held in Victoria Park, was issued a winding-up order on March 27, per a notice published by ASIC.

Vincent Pirina of Acton Chase Group was appointed liquidator.

The court’s decision came after a March 1 application for a winding up order for festival operator ITP Music, was filed by equipment and storage hire company Kennards.

9news.com.au has contacted Acton Chase Group for comment.

The last NYE In The Park festival was held at the close of 2022.

Its liquidation is another blow to the limping music festival scene in Australia, which has struggled to rebuild following the COVID-19 pandemic.

Last week, iconic festival Splendour In The Grass confirmed this year’s event would not be held.

“We know there were many fans excited for this year’s line-up and all the great artists planning to join us, but due to unexpected events we’ll be taking the year off,” the organisers posted to Instagram.

No reason was given for the cancellation.

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