World Famous Music Fest Axed Effective Immediately

After months of accusations that London-founded All Tomorrow's Parties (ATP) are completely out of funds, organisers have today announced that the festival will be ceasing operations effective immediately. 

In a statement posted to the festival Facebook page just hours ago, organisers revealed that funding pulled from an Iceland event forced them to shut down ATP.

"...We are no longer able to continue so will be closing down the entire live side of ATP festivals and live promotions with immediate effect and going into administration," the statement reads. 

Upcoming UK shows will go ahead with new promoters and ATP organisers have confirmed all purchased tickets will remain valid. 

"We are very sorry we could not make this work and have tried to survive throughout all our recent losses but we are no longer able to trade and have to accept we cannot go on," the post continues.

"Thank you to all our loyal customers who have supported us and incredible artists who have performed or curated for us over the years and made ATP so special while it lasted."

The announcement comes two months after US band Drive Like Jehu pulled out of curating the ATP 2.0 event, claiming that organisers did not have the money to pay their acts. 

"48 hours ago word started to trickle in that [festival founder Barry Hogan] hadn’t honored his agreement with many of the bands," the group said in a statement released in April.

"These bands were not canceling, but rather did not have the promised means to attend. It was only then revealed that ATP was unable to honor the agreement with the ticket holders that purchased accommodation. ATP is out of funds. ATP offered to postpone the event until November as a solution. No thanks."

The ATP festival came to Australia for the very first time in 2009 and was curated by iconic Australian outfit, Nick Cave & The Bad Seeds who performed alongside acts such as The Saints, Spiritualized, Fuck Buttons, Robert Forster and The Necks. 

The festival returned in 2013 for the I'll Be Your Mirror event which was curated by ATP organisers and Melbourne band, The Drones.