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Foam Fest announced Thursday afternoon that it’s going out of business. The announcement came on its website just days after the abrupt  cancellation of a 5K Foam Fest that was set for Saturday at Southington Offroad Park in Garrettsville.

Here is Foam Fest’s entire statement:

Dear 5k Foam Fest Friends, Our organization has spent years and an incredible amount of money perfecting this great event for the runners we admire so much. However, due to limited resources we are sad to announce that the 5k Foam Fest is cancelling all future events and will no longer be in business as of July 17th, 2014. After tireless efforts to find a way to help us finish out our season; we simply can’t continue to move forward. However, the 5K Foam Fest Canada is an entirely different organization and will continue to operate business as usual.

For those registered for a 5K Foam Fest that will no longer being taking place, we know that you’ve spent time and energy preparing for your event. We reached out to some industry friends, and we’d like to thank Red Frog Events, the leaders in the running and active entertainment industry, who have stepped up to generously offer you a free registration to any of their 2014 or 2015 running events, which includes Warrior Dash, Epic Fail Challenge, Cocoa Classic, Bacon Chase, and more to come over the next year, to make up for the cancelled Round House Racing event you are registered for. You will receive an email from Red Frog Events within the week with a promo code to the email address you registered with to 5K Foam Fest, good for one free registration and 25% off another registration, in the case you’d like to bring a friend or family member at a discounted rate.

Please do not reach out to Red Frog Events for any information other than discussing registering for one of their events. They do not have any direct affiliation with 5K Foam Fest and do not have details on the cancelation of our events, other than offering you a free registration to one of their running series.

While the 5k Foam Fest no longer has staff or funds and will not be able to respond to individual emails or phone calls, we will provide additional email updates as information becomes available. As we face bankruptcy we ask for your forgiveness and patience.”

According to BBB, local registrants received an email with this message on Tuesday:

“Hello Foamsters,

Due to some unexpected, last-minute logistical issues, we’ve had to postpone our 5K Foam Fest So Cal Event. We’re working diligently to reschedule and possibly move the event but we don’t have any details at this time. Unfortunately, we’re not able to provide you with a refund.  We know that you’ve spent time and energy preparing for your event, so we will be in touch as we look to reschedule.

Please continue to check your email for updates and we’ll get you the latest information as we have it. We sincerely apologize for this inconvenience and appreciate you understanding.

Thank you,

The Round House Racing Team”

According to BBB, those who signed up for the race said they paid anywhere from $45 to $75 in registration fees. They cannot get refunds.

BBB also said it spoke with officials at the Southington Offroad Park, who said they incurred expenses to arrange food for the event. The park has not spoken with Round House about rescheduling.

BBB says participants can file complaints with the BBB and if a payment was made by credit card, it’s recommended they contact the credit card companies.

The BBB says Round House is based in Utah and has a C+ rating with the BBB. It conducts events across the country.

The BBB recommends if anyone is considering participating in any type of event similar to the Foam Fest, they check the organizer’s rating with BBB, confirm that the event is scheduled beforehand and understand refund policies.

It’s also recommended participants pay by credit card, in case they need to dispute the charge at a later time.

For the BBB website, click here.

Meanwhile, the Ohio Attorney General is encouraging people who’ve lost deposits to file a complaint online by clicking here or by calling 1-800-282-0515. A spokesperson told Call for Action reporter Lorrie Taylor, “We are looking into this issue on behalf of consumers.”

For extended coverage on this story, click here.