SFX is bankrupt, Sillerman is out as CEO, and there may no longer be a TomorrowWorld. Now, following news that the company has received an $80 million bankruptcy loan, it’s been revealed that SFX owes some serious companies some serious money.
According to Music Week, SFX’ biggest creditors are:
Alda Events: $23.6 million
Totem OneLove Group–which runs Australia’s Stereosonic Festival– $10.7 million
Made Event–founder of Electric Zoo–$10 million
React Presents–the company behind Spring Awakening–$5.8 million
As well, UK-based songwriter, composer, and music publisher membership group PRS for Music is owed over $300,000.
Stay tuned for more information in the ongoing SFX Entertainment saga.