An upcoming event in Japan that would have included performances from various artists including KARA, Supernova, and more, has been canceled.

The event, planned by Infini Japan, was originally scheduled to run for two days starting on June 30th in the Tajima Dome.

On June 22nd, however, Infini Japan started its procedure of filing for bankruptcy. It has been reported that the company was unable to bring in enough revenue through ticket sales to handle the cost of putting on the event, and are not financially secure enough to even issue refunds.

On June 21st, Infini Japan's lawyers updated the Infini homepage, saying, "Although [Infini Japan] is scheduled to apply for bankruptcy in the Osaka courtroom, the company cannot pay for the application expenses until sometime next mid-month."  In regards to the canceled event, they added, "Infini Japan's remaining property and fortune is nearly gone [and so] it will be difficult to provide refunds [for the tickets that have already been sold]."

Source: TV Daily via Nate