Comedy fest creditors not laughing all the way to the bank

There will be fewer laughs on Citadel Hill this summer as the company responsible for organizing The Great Outdoor Comedy Festival has begun bankruptcy proceedings, listing liabilities of just under $6 million against assets of $405,000. 

In a statement posted on the company’s website Friday, Mike Anderson, founder and president of Trixstar Productions Ltd., is quoted as saying that the company had made an assignment in bankruptcy.

The post pointed to “significant financial challenges” as the cause and said despite efforts to address these challenges, they were “unable to establish a financially stable path forward.” 

Trixstar has been in the news locally for allegedly not paying vendors at their Halifax festival this summer.  

The Halifax festival saw thousands of attendees across four days, with fans coming from throughout the province to see comedians like Matt Rife, Trevor Wallace and Nikki Glaser.  

The comedy festival, which took place across numerous cities in Canada and the United States, postponed their Mississauga festival in September and had yet to reschedule or refund ticketholders.  

Refunds have also not yet been received for a show cancelled due to weather in Edmonton last summer.  

Accounting firm MNP has been assigned as the licensed insolvency trustee of the estate of Trixstar. According to the statement of affairs filed with the federal Office of the Superintendent of Bankruptcy, Trixstar has 281 creditors, owing a total of nearly $6 million.  

Some of these liabilities include local businesses. The company owes $28,500 to the Halifax branch of the Canadian Progress Club and $10,500 to Garrison Brewing.  

It also owes Halifax Regional Municipality $14,100 and Parks Canada, via the Halifax Citadel National Historic Site, where the Halifax festival took place, $70,500.  

Outside of Halifax, the document shows liabilities of $63,500 to Coca-Cola Canada, $500,000 to Canada Revenue Agency and $110,000 to Meta.  

The website statement has instructed ticketholders for cancelled and future shows to contact trixstar@mnp.ca to inquire about next steps.