CRJ Productions, the organizers of the 'Chicago Powerfest', have released the following statement:

"We've been holding off making this announcement for as long as we could, as we truly hoped there would be some kind of salvation for a 'Chicago Powerfest 2010' edition. However, with the closing of the Pearl Room last August, and the financial stranglehold we've been left in as a result, we've been left without a suitable venue and without the necessary funds to kick-start a 2010 festival somewhere else. Additionally, the current state of the economy and its effect, not only on fans but on us personally, have left us no choice but to finally make the decision to put 'Chicago Powerfest' on hold for now.

With that being said, we will continue to spend the rest of 2010 working on ideas for taking 'Chicago Powerfest' to a higher level in 2011 and perhaps some other ventures to take place before 2010 wraps up. As always, we thank everyone for their incredible support over the years. We sincerely appreciate everything, and will continue working to bring you the best in Metal."

Stay tuned to www.chicagopowerfest.com for all the latest news and updates.

Source: www.Blabbermouth.Net