A Canadian music festival featuring the likes of The Avalanches, Chance The Rapper, Muse and Tegan & Sara has been cancelled, with festival organisers announcing they will not be issuing automatic refunds to punters due to bankruptcy.

As Brooklyn Vegan reports, up until 18 May (local time) tickets were available to Pemberton Music Festival, but with rumours rampant of its imminent cancellation, ticket-holders started contacting organisers for more information. 

However, the festival deleted their Twitter and Instagram accounts and later updated their website with the official announcement that they had gone bankrupt and the festival would not be going ahead in the town of Pemberton, British Columbia.

They stated that they have "no ability to provide refunds for tickets purchased". 

"However ticketholders may file a proof of claim form as an unsecured creditor with EYI in accordance with the claims process. Proof of claim forms will be mailed to known PMF creditors in due course and made available on the Trustee’s website," the statement reads.

According to Vancouver radio station CKNW, Pemberton Music Festival cite "decreased ticket sales and increased operation losses" for the bankruptcy.

They report the festival reportedly brought in $8.2 million (presumably Canadian dollars) with $22 million in budgeted expenses, but owes creditors $2.5 million USD. 

An estimated 55,000 fans may be left waiting for refunds.

A number of fans have taken to Twitter to vent their frustrations.