Following the news last week that Future Entertainment had collapsed with massive debts owing to disgruntled creditors (and just two weeks after the company was acquired by The Mushroom Group), it now appears that the fallout of the company will affect the future of the Summadayze festival.
Speaking to Melbourne newspaper The Age, Mushroom Group founder Mr Gudinski confirmed the 2014 Summadayze event was unlikely to proceed.
''I'd heard there were difficulties after this year's Summadayze but I didn't really get a sense of the scale of it until we started due diligence, a couple of months ago," Gudinski said.
'We've got a massive job ahead with the Future Music Festival. We want to make it a much better experience for the people who are going. We're looking long term."
The new joint venture between Mushroom Group and the company formerly known as Future Entertainment will be headed up by partners Brett Robinson & Scott Robertson and Mr Gudinski's son, Matt Gudinski, while Jason Ayoubi will remain as a consultant. Mark Condron (Mark James) will have no further involvement with the business.
