The promotional organisation behind Stereosonic has gone into administration.
The large scale festival promoters SFX Totem (Totem Onelove Group) confirmed the news via The Music yesterday, just weeks after the rumours were confirmed that Stereosonic would be discontinued, as well as the cancellation of Armin Van Buuren’s national tour that was set to commence next month.
Totem Onelove’s staff will likely be finishing up come the weeks end, as the company shuts the doors after an otherwise successful decade in the music industry.
The company founders – who sold Totem Onelove to SFX in 2013 to start new ventures – have hinted to new projects on the horizon to fill the gap that Stereosonic has left.
[Source: The Music]