BREAKING: ATP Is No More

All Tomorrow’s Parties (ATP) has shuttered its doors for good, meaning that ATP Iceland is now officially cancelled.

Posting on Facebook, ATP organisers broke the news under the header “ATP – R.I.P.”

The festival has been marred by financial trouble for years now, with recent investigations revealing poorly managed funds, unpaid artists, and runaway costs. The previous ATP festival was rife with trouble, as numerous big-name acts cancelled, followed by a re-location to a new site, before organisers ended up cancelling the event altogether.

These problems have set off frustration and criticism from numerous people involved with ATP, including artists and staffers alike.

FactMag reports that “[a]ll purchased tickets will remain valid with the new promoter, and the company intends to share details of the administrators and how to get festival ticket refunds over the next week.”