Promoters of a cancelled Auckland music festival have gone into liquidation as fans wait for ticket refunds.
The Echo Festival, which had big-name international acts like Jamie XX, Disclosure and The Flaming Lips on the bill, was to be held on January 11 and 12 at Vector Arena and its surrounds.
It replaced the three-day McLaren Valley Music and Arts Festival, which was forced to move after promoters failed to get resource consent for its original Bay of Plenty venue.
However slow ticket sales forced the cancellation of Echo.
An unsigned statement on the festival's website, believed to be written by festival director Paxton Talbot, announced the liquidation.
It says organisers have "explored all possible measures and future outcomes" but feel liquidation was the most responsible course of action.
Arranging ticket refunds had been "fraught with problems and today's development does little to alleviate that situation in the short term.
"We are deeply sorry for that."
Liquidators would continue to resolve outstanding issues, it said.
The statement went on to express the director's "total disappointment".
"For me this final stage been an ugly and saddening personal disaster which has left me financially and physically broken."
Simon Dalton and Matt Kemp of Gerry Rea Partners Auckland have been appointed liquidators and all creditors will be contacted.