The company which operated Soundwave last year has placed itself into voluntary administration.
The move confirms what many in the music industry have suspected for some months – that Soundwave was in trouble following protracted delays in the payment of overdue accounts.
Music Feeds reported two days ago that a number of creditors were still owed a substantial amount of money including $2.5 million to the Australian Taxation Office. World Stages Pty Ltd is seeking to wind up the company over an unpaid debt.
On 24th September the company name was changed to Penny Denny Pty Ltd. It was changed again the following day to ACN 127 870 866 Pty Ltd.
High profile and vocal Soundwave promoter AJ Maddah told Music Feeds that the 2016 festival will definitely proceed under a new entity and that proceedings will not affect next year’s event.
scenestr understands the line-up for Soundwave 2016 will be announced in the next 10 days. These are the acts already confirmed on the 2016 Soundwave bill.
