Australian metalcore band Parkway Drive was slated to headline a major 11-date festival tour set to take place across New South Wales, Queensland, Victoria, Western Australia, and South Australia in February and March of the coming year.

Organizers have delivered the unfortunate news that the festival has been canceled, citing a range of issues, notably financial difficulties.

“It is with a heavy heart that we announce this difficult decision. We’ve explored every option, and we are truly disheartened,” the organizers shared in an official statement on their website.

“We understand and share in the disappointment of everyone involved.”

Parkway Drive addressed their fans directly via Instagram, expressing their apologies for the cancellation.

The band highlighted that the festival’s cancellation is yet another loss for the challenging Australian music industry.

“This is a message we never imagined we’d have to write, and it weighs heavily on us. Park Waves Australia has been cancelled,” Parkway Drive said in a statement.

“Just writing this feels like a kick in the guts, but here we are – another festival being crushed by the rising costs across our entertainment industry.

“We’ve tried every possible option to keep this dream alive, but the reality of the circumstances won’t allow for it.”

Ticketholders will be refunded the price of tickets and booking fees.

“Please know that your support is what keeps this culture alive and standing strong through the worst of times,” the band added.

Park Waves was set to be an inaugral Australian festival showcasing Parkway Drive as the main act alongside several other metal bands, including Amity Affliction, Northlane and Story of the Year.

It was billed as a “never-before-witnessed” event with circus performers, carnival rides, food and sideshow alleys.

Plenty of legacy festivals have fallen victim to Australia’s turbulent live music scene.