June 30, 2010 13:36

Sweden's Hultsfred festival files for bankruptcy

Poor ticket sales blamed for financial problems

Swedish festival Hultsfred has filed for bankruptcy following poor ticket sales.

The festival, which was due to kick off on July 7, has now been cancelled. Empire Of The Sun, Erykah Badu and Frightened Rabbit were among the acts confirmed to play the event, which would have taken place over three days.

The company behind Hultsfred, Rockparty has filed for bankruptcy, reports Swedishwire.com.

It is understood that the festival organisers were under the impression it could break even until last week.

Hultsfred began in 1986 and by 2005 it had a capacity of 32,000.

Fans who were hoping to go to this year's festival are encouraged to visit Rockparty.se for more information.