After facing significant financial hardship last year, Furnace Fest has been sold to an outside production company.

In a heartfelt video statement, founding partner Johnny Grimes confirmed he will no longer be involved moving forward.

The festival had operated at a loss in 2025 and accrued substantial debt, including unpaid artist guarantees.

Grimes emphasized that Furnace Fest was built on trust and integrity, but the financial losses forced organizers to make difficult decisions.

A large production company agreed to step in, cover outstanding debts, and pay remaining balances owed to artists, but this came at the cost of full ownership of the festival.

Despite heartbreak, Grimes framed his exit through gratitude rather than regret, recalling defining moments that shaped Furnace Fest's identity and highlighting deeply personal memories.

He offered well wishes to the festival's new owners and expressed hope they will honor what made Furnace Fest special.