The company behind Victoria's Esoteric Festival has entered voluntary administration after cancelling this year's event.
The annual multi-day festival features primarily electronic music and art installations, in Wimmera, country Victoria, and has been running for eight years.
The festival was cancelled this year just one day before it was due to kick off. This was due to the local council citing health and safety concerns. The company behind the event has entered voluntary administration just three months later.
Documents from the Australian Investment and Securities Commission show it owes over $2.8 million to employees, creditors and ticket holders.
Worrells Solvency and Forensic Accountants has been appointed as company administrator. It is said that without the business purchase, the festival would have a shaky future.
Administrator Worrells said the festival's future is in doubt unless someone purchased the business.
