Morrissey, Sonic Youth, PJ Harvey, the String Cheese Incident, the Flaming Lips, the Pixies, Wilco, Modest Mouse and the Polyphonic Spree were among the more than thirty bands scheduled to take part in the tour.
"My heart aches along with the bands, and all our employees, whose hard work developed one of the most exciting tours this nation was to see," organizer Perry Farrell said. "My heart is broken."
The news comes amid reports that the summer concert industry is suffering from tepid sales. Though Eighties icons like Prince and Madonna have fared well, tours by Fleetwood Mac and the Dead have yet to catch fire. Organizers were hoping that Lollapalooza's broad-based list of performers and modest ticket price would draw a substantial audience.
"I am in utter disbelief that a concert of this stature, with the most exciting lineup I've seen in years did not galvanize ticket sales," co-founder Marc Geiger said. "Concert promoters across the country are facing similar problems."
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