Earthcore company set to be wound up after mass cancellations

A company run by Earthcore's founder is set to be wound up following mass cancellations at this year's string of events in Australia.

The Herald Sun reports documents were lodged with the Australian Investments and Strategies Commission on December 4 to wind up Yellow Sunshine Pty Ltd, of which Earthcore founder Spiro Boursinos is the sole director, just days after the camping festival finished up.

It comes after Earthcore's one-day events were cancelled and 32 artists booked did not appear at the main festival at Elmore, Victoria, according to the article.

The process of 'winding up' a business includes selling all of its assets, paying off creditors, distributing any remaining assets to the partners or shareholders and then dissolving the business, according to Investopedia.

Earthcore organisers said the festival was owned and run by a separate company, Earthcore Events Pty Ltd.

Mr Boursinos has been involved in a series of other companies which have been deregistered, including Earthcore Productions in 2002 and Good Trix Pty Ltd in 2008, of which he was a director, the Herald Sun report states.

Prominent artists including Coming Soon and Nick Curly posted to social media saying they were not playing the festival because they had not been paid and flights had not been booked.

Organisers released a statement after the festival calling Coming Soon's post a "smear campaign."

Scott Carbines is Mixmag's Australian Digital Content Editor, follow him on Twitter