The promoter behind a cancelled Jon Bon Jovi concert originally slated for Stanley Park announced Wednesday it had filed for bankruptcy, reports TheProvince.com.

The show, initially scheduled for Saturday at Stanley Park’s Brockton Field, was cancelled earlier in the week following claims of low ticket sales by promoter Paper Rain Performances. Bon Jovi’s management company responded with allegations that Paper Rain hadn’t paid vendors or procured staging equipment. The Vancouver Park Board also chimed in, noting Paper Rain had been unable to get permits for the outdoor event.

Paper Rain president Dennis MacDonald confirmed the news of bankruptcy Wednesday but did not give any further details, referring instead to a statement issued earlier in the day.

“Promoters of Jon Bon Jovi and the Kings of Suburban Concert reluctantly file for bankruptcy,” reads the statement’s headline.

The one-page statement outlined the promoter’s explanation for the cancelled gig, noting there was support from the city and the park board, but alleged a lack of cooperation from the artist and slow ticket sales. Paper Rain said it had also requested a postponement of the event, instead of an outright cancellation.

“The artist’s management team flatly and repeatedly refused to allow a postponement and instead they insisted that the concern be cancelled. Paper Rain had no party in the cancellation and we remain in disagreement with that action,” the statement reads.

The statement goes on to note that final details — including creative design, staging, lighting design, traffic management and safety plans, and catering — was all in place.

“Although the show components had been worked on for more than a year and were in place, the ticket sales for the concert continued to lag,” the statement said.

Paper Rain alleges they were not allowed access to the artist for interviews, and were not given collateral and marketing support materials.

“We are confident that this situation could have been avoided completely. We regret to advise that effectively immediate, as a result of the above, Paper Rain Performances is insolvent,” it reads. “We are deeply troubled by the disappointment that this has caused the artist’s fans and the City of Vancouver in general.”

Read more at TheProvince.com.

Bon Jovi’s “album for fans”, Burning Bridges, will be released on August 21st. A new lyric video for "A Teardrop To The Sea" can be seen below:

Burning Bridges tracklisting:

"A Teardrop To The Sea"
"We Don't Run"
"Saturday Night Gave Me Sunday Morning"
"We All Fall Down"
"Blind Love"
"Who Would You Die For"
"Fingerprints"
"Life Is Beautiful"
"I'm Your Man"
"Burning Bridges"
"Take Back The Night" (Japan Bonus)

"A Teardrop To The Sea" lyric video:

“Blind Love” lyric video:

“Saturday Night Gave Me Sunday Morning” lyric video:

“We Don’t Run” lyric video:

Bon Jovi are hard at work on their next album, which will see a full-scale release in 2016.

The band kicks off their tour on September 11th in Jakarta, Indonesia, and runs through till October 3rd in Tel Aviv, Israel. Visit BonJovi.com/Tour for all the of the details and ticketing information.