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Parent company of cancelled Roxodus festival files for bankruptcy

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Company behind Roxodus music festival filed for bankruptcy on Friday, according to legal documents filed on Grant Thornton LLP’s website.

Loranger is the director for one of Taurus’ subsidiaries, Taurus Investment Group Inc., which was among the companies thatto hold the event. Taurus owns the land on which part of the festival was supposed to be held.

According to the firm Grant Thornton, the designated bankruptcy trustee, MF Live’s “sole purpose” was to organize the Roxodus event, and it was their understanding that the event was cancelled because itto cover the expected costs. The trustee said wet weather also made preparations challenging and prevented organizers from being able to host a safe event. The trustee said more information would be provided in the preliminary report to creditors.

“About six weeks to a month out, I guess I kind of noticed a slowdown. And two weeks out, there was nothing,” Leslie Farkas, who runs Skydive Wasaga, told CTV’s Your Morning, adding that he did not believe the problems were weather-related. Meanwhile, companies like Eventbrite Inc, which has said it would refund tickets purchased through itssite, are, according to the creditor documents. Other notable creditors include Star Security, which is owed more than $500,000. Nature’s Call and Porta Kleen, two portable toilet rental firms, are owed more than $250,000 and $84,000 respectively.

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