The organisers of Liverpool's Hope & Glory Festival have gone into liquidation.
The event collapsed in ignoble circumstances earlier this year, with organisers pulling the plug after a farcical opening day dogged by lengthy queues and complaints.
The company behind the festival has gone into liquidation, with insolvency firm Butcher Woods explaining that 32 creditors were owed £888,984, including Liverpool City Council.
BBC reports that the councils claims it is "seeking recovery of costs associated with the clean-up operation" for the festival at Liverpool's St Georges Quarter.
The council is said to be holding an independent review "into the operational detail" of the festival which "will be complete shortly".
A spokesman said: "Any lessons learned will be implemented for future events run by outside organisations".
Hope & Glory organisers have yet to comment on this development, but in a previous statement "accepted ultimate responsibility" and "profusely apologised" to the public.
Join us on Vero, as we get under the skin of global cultural happenings. Follow Clash Magazine as we skip merrily between clubs, concerts, interviews and photo shoots. Get backstage sneak peeks and a true view into our world as the fun and games unfold.