Company behind The Grass is Greener Festival wound up, no money for creditors and suppliers

The company behind a nationwide music festival is in liquidation, leaving more than $3m in debts to suppliers and unhappy ticketholders.

The company behind a nationwide music festival is in liquidation, leaving more than $3m in debts to suppliers and unhappy ticketholders.

The Grass is Greener festival was operated by Hand Picked Events and Marketing, which went into administration on December 8.

Grass is Greener booked shows for Cairns, Gold Coast, Canberra and Geelong. But ticket sales were so low organisers were unable to meet obligations to headline artists, some of whom pulled out at the last minute.

Gold Coast headliners Ty Dolla $ign, ZHU and Maya Jane Coles all pulled pin, with Sydney drill-rap outfit ONEFOUR breaking the news to its fans on social media.

Organisers were forced to cancel the Geelong and Canberra festivals, leaving ticketholders fuming.

Oli Frost.

Sole director Oliver Frost, aka Oliver Fines-Frost, said he appreciated the “significant impact” the liquidation had on everyone involved.

“Not least our incredible suppliers and staff who worked as hard as we did to build The Grass is Greener Festival,” he said.

“Prior to Covid, we had put on successful music events for six years and our intention was to continue to expand on these great experiences for fans and artists.

“Unfortunately spiralling costs following Covid, coupled with unforeseen extreme weather conditions and an already tough environment for the live entertainment and hospitality industries, greatly contributed to this outcome.

“It was never our intention to do anything other than create a festival that had a positive economic impact for our community — including for staff and suppliers, many of which are friends — and the artists involved.”

Screenshots for Grass is Greener Festival

Ticketholders of The Grass is Greener Festival were fuming.

Contractors, suppliers, and other creditors from Cairns to the Gold Coast were told the festival gave interest-free loans to restaurants linked to Mr Frost, and co-founder Jonathan Eddings, originally from Cairns.

Restaurants operated and/or owned by Mr Frost, including Maman and Naami at Burleigh, Luciana Tapas at Tugun and Milky Lane at Surfers Paradise, as well as an F45 gym in Lismore, were given more than $760,000 of the festival’s money.

All had experienced “poor trading” with most operating at a loss for FY22.

Grass is Greener Festival.

A report from administrators BCR Advisory said the restaurant loans would not be repaid.

To avoid liquidation, creditors voted in February to sign a deed of company arrangement, which required Mr Frost to pay $200,000 into the administration account within 90 days.

The deed was conditional on Mr Frost obtaining finance for the $200,000 payment, and he was ultimately unsuccessful.

Tom Vandermeer of BCR Advisory said the director had taken all necessary steps to attempt to obtain finance.

He said all available assets would be “recovered for the benefit of creditors”.

“Creditors will receive an update report within three months of the liquidation appointment,” he said.

Returns to creditors appear unlikely, with the latest administrators’ report saying the company had received $39,556, an amount that had been completely absorbed by administrators’ fees and a transfer to the deed administration.

The Grass is Greener founders Oli Frost and Johnny Eddings.

Among creditors owed more than $3m are artists, logistics contractors and music agencies, including Cult Artists, which is owed $330,000 and United Talent Agency, which is owed $117,785.

At least another $158,340 is owed to the Australian Taxation Office, while $120,900 is owed to ticket holders and $6000 is reported as owed to SPER.

According to administrators, Hand Picked Events loaned more than $411,000 to Lucia Tapas; $78,634 to Naami and $216,417 to companies that operated Milky Lane in Surfers Paradise.

Another $53,000 went to an F45 gym in Lismore, directed and co-owned by Mr Frost.