Souled Out Pty Ltd had planned to return in February 2025 for a second year of the festival but cancelled the sold-out event, before entering administration last month. Per the Courier Mail, a report filed with ASIC on Wednesday shows the promoter accrued $1.1 million in debts during its 2024 events, held across Sydney, Melbourne, the Gold Coast, Perth, and Auckland.
Of that amount, unsecured creditors were owed roughly $910,000, while a secured creditor was owed around $280,000, according to administrators Laurence Fitzgerald and Garth O’Connor-Price from William Buck.
The festival launched in 2024 with headline performances from US and Canadian artists Summer Walker, Bryson Tiller, and PartyNextDoor. The cancelled 2025 edition had…