There will be no Stereosonic 2016, with organisers announcing that while this year's event is cancelled, the electro music festival will continue in 2017.
Melbourne-based touring company Totem Onelove, however, confirmed the bankruptcy didn't affect Australian operations.
The statement, released Thursday on Facebook, read: "Totem Onelove Group is currently working on bringing Stereosonic fans the best festival experience possible.
"As part of this, we are taking a hiatus during 2016. However, we will return in 2017, bigger and better."Suggest a correction