After a run of 26 years, the Cascade Festival of Music has folded.
The festival's board of directors announced today that "it will suspend all operations, effective immediately" because of crippling debts. The 2008 concert series, scheduled to have taken place in late August, has been canceled and all administrative staff has been laid off, the board announced.
The festival revealed in September 2007 that it had outstanding debts of about $190,000 and launched a fundraising campaign "in an attempt to resolve the situation," the board's announcement said, but the effort fell short because of "the downturn in the local economy and its negative effect on securing corporate sponsorships and major individual contributions."
In an attempt to save money, the festival announced in March that it would hold the 2008 concert series indoors at Bend High School instead of in the giant tent in Drake Park where concerts had taken place since 1987 - a move that would have saved about $90,000. But apparently it wasn't enough.
The CFM board voted June 21 "to suspend operations to avoid incurring further debt," the announcement said. There was no immediate word on whether advance ticket purchasers for this season would have their money refunded.
