Just for Laughs: Montreal festival cancels to avoid bankruptcy

Montreal’s Just for Laughs comedy festival has been cancelled for 2024, potentially ending a four decade run in Canada, as it seeks to avoid bankrupty.

The event is one of the big three global comedy festivals, along with Edinburgh Fringe Festival and Melbourne International Comedy Festival.

Organisers Groupe Juste Pour Rire Inc. said it is seeking protection from its creditors as it begins formal restructuring under Canada’s Bankruptcy and Insolvency Act. 75 employees have been laid off.

It attributed its financial challenges to the pandemic, inflation and a changing entertainment industry, is looking for investors or to sell parts of its business.

ABC reports the company plans to continue operations in  a “scaled-down format” as it restructures, but hopes to return in 2025.

“The decision to initiate restructuring proceedings was reached after thorough consideration of all options available to the company, taking into account its very difficult financial situation given the significant changes in our business landscape in recent years,” a spokesman for Groupe Juste Pour Rire, Julien Provencher-Proulx said.

The annual festival has been a destination for numerous Australian comedians including Tommy Little, Ronny Chieng, Joel Creasey, Wil Anderson, Adam Hills, Paul McDermott, Dame Edna Everage, Rove McManus, Judith Lucy, Jimeoin, Tim Minchin, Jim Jefferies, Dave Hughes and Sam Simmons.

Just For Laughs: Sydney has also been operating as the local offshoot for 11 years, but it isn’t yet clear how it may be impacted.

In Australia 10 has screened annual Just for Laughs: Montreal comedy specials.