After a rough year struggling through massive financial issues, TomorrowWorld has just released on its official website that it will not be returning this year.

This is directly following the weather-related cancellation of TomorrowWorld only last year.

Festival producer SFX Entertainment, which filed for bankruptcy this February, initially received a loan for $115 million in revenue to keep the company afloat. Unfortunately, it was not enough.

This was TomorrowWorld’s official statement, released this morning:

Dear Friends,

It’s with a heavy heart that we inform you, TomorrowWorld will not take place in 2016. Unfortunately in the current environment, it is not possible to give you the best and unique experience you deserve.

We will miss seeing each other in September and experiencing the magic of TomorrowWorld as one. You, the People of Tomorrow, the foundation of TomorrowWorld, are our inspiration.

Let’s lock and cherish all the magnificent memories in our hearts, this is not farewell…