Fyre Festival has finally burnt out, and from the looks of things, no amount of stoking the “fyre” will ever revive it.
The Wall Street Journal reported on Wednesday — just over four months after the supposedly luxurious, entertainment-packed, Instagram-worthy event was abruptly cancelled — that a judge placed the company that promoted Fyre Fest into bankruptcy.
Back in July, just days after festival co-founder Billy McFarland was arrested for fraud, three lenders filed a lawsuit seeking to regain the $530,000 they had invested in the event.
“If the money was burned up in the Bahamas we’re not going to be able to recover it but at least we’ll know where it went,” Robert Knuts, the lawyer representing the lenders, said according to The Wall Street Journal.
Knuts also said the three people he represents only make up a small part of over 20 individuals who loaned over $4 million to the festival.
Back in April, after early attendees became certain the festival wasn’t going to live up to promised expectations, they began sharing photographs, video, and personal accounts of the sorry-looking food, landscape, and lack of entertainment at the festival.
The event was cancelled with little to no warning. Despite organizers releasing an apology statement for the cancellation, lawsuits against the festival soon rolled in.
People who got burned in the process of trying to live out their Insta-dreams sued the festival organizers for everything from false marketing campaigns to loss of money and possessions.
Fyre Festival will now reportedly be controlled by a trustee, and on Wednesday, Judge Glenn ordered the company to file all documents that reveal money owed to other parties.
Good luck with that list, and be sure to check it twice.