Documents obtained by Global News and CKNW from accounting firm Ernst & Young show that "decreased ticket sales and increased operating losses" have forced the festival to apply for bankruptcy. Tickets were still available for purchase on the festival's website as of 3:30 p.m. on Thursday.
The lineup for this year's event included acts such as Muse, Chance the Rapper, A Tribe Called Quest and dozens of others.
The cancellation follows hot on the heels of the Squamish Music Festival which was axed last March. Event promoters Huka Entertainment had only sold 18,200, compared to 38,000 previous year. Ticketholders must file a claim through Ernst & Young with no guarantee of a refund.
Wednesday afternoon, a festival goer commenting on the Facebook page was told that wristbands will be shipped out two to four weeks before the event.
The statement also noted the festival had trouble attracting talent for this year's festival because of a limited number of artists who were touring in 2017. Imagine the excitement of buying a ticket and reading this today, "PMF is now in bankruptcy, it has no ability to provide refunds for tickets purchased".More news: Pakistan files plea with ICJ to rehear Kulbhushan Jadhav case
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It's not surprise people are so intent on coming back after experiencing their first Pemberton Musical Festival.
The festival was planned for July 13 to 16 in Pemberton, British Columbia.
Follow HuffPost Canada on Facebook, Twitter, and Instagram. The site features plenty of legal speak about how refunds will not automatically be handed out. "The trustee will provide an update to creditors in due course", the notice says. The document says there will be no automatic refunds for ticket holders, who may have to wait weeks to learn whether they will get their money back.
As Brooklyn Vegan reports, up until 18 May (local time) tickets were available to Pemberton Music Festival, but with rumours rampant of its imminent cancellation, ticket-holders started contacting organisers for more information.
"If you paid on credit card, that's going to be your best recourse because you can go through the chargeback process with the credit card because obviously the services won't be provided".