Esoteric Festival Pty Ltd - Voluntary Administration

Esoteric Festival Pty Ltd, the company behind the Esoteric Festival in country Victoria, entered voluntary administration on 11 June, with Nathan Deppeler and Scott Andersen of Worrells appointed as voluntary administrators.

The eight-year-old electronic music festival, which is known to draw crowds of about 11,000 festivalgoers, was cancelled this past March the day before it was scheduled to start. The administrators cited this year’s cancellation as the reason behind their appointment, saying the festival will be permanently cancelled unless a buyer or investor is found.

Creditors, including employees and ticketholders, are owed a collective $2.8 million.