Come on Get Happy…In Bankruptcy?

This week on The Broke and the Beautiful, David Cassidy filed for bankruptcy—but don’t worry, we (still) think we love him. Also, music festival Country Explosion filed for bankruptcy, and BottleRock’s original producers sought $3 million from an early investor.

David Cassidy, even though you’ve filed for bankruptcy, don’t worry—we think we love you. The actor and singer, who is best known for his starring role in the sitcom “The Patridge Family,” on Wednesday filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in Fort Lauderdale, Fla. In his bankruptcy filing, Mr. Cassidy reported assets and debts each between $1 million and $10 million. Among his largest unsecured creditors are Wells Fargo, owed nearly $300,000, and a South Florida law firm owed $103,000.

A lawyer for Mr. Cassidy declined to comment Friday. In a note on his website, Mr. Cassidy said that bankruptcy is “necessary for practical reasons to reorganize my life as I go through divorce and to restructure my finances.”

This isn’t Mr. Cassidy’s only recent struggle. Last year, he was sentenced to rehab and filed for divorce from his wife Sue.

We’re no stranger to music festival bankruptcies here at Bankruptcy Beat, and this week, another one hit a low note. Country Explosion on Tuesday filed for chapter 11 protection to put the brakes on a lawsuit from Florida Georgia Line, which had countersued it over a breach of contact. Florida Georgia Line, famous for hits including “Cruise” and “Dirt,” says it is still owed $205,000 for performing at last year’s festival.

In its bankruptcy petition, filed in Salt Lake City, the music festival listed less than $50,000 in assets and debts of $1 million to $10 million, including the disputed claim from Florida Georgia Line. The festival’s bankruptcy follows a January chapter 11 filing by Mr. Brady.

Lee Rudd, a lawyer for Country Explosion, on Friday said he couldn’t immediately comment. Paul Toscano, Mr. Brady’s bankruptcy lawyer, said, “It is too early to tell what impact, if any, the Florida Georgia Line lawsuit may have on Mr. Brady’s Chapter 11 bankruptcy. I can say that every effort is being made to repay the just claims of all his creditors through the bankruptcy process.”

According to Country Explosion’s website, the show is set to go on this July and will feature artists including Anita Cochran and Andy Griggs. Country Explosion bills itself as Utah’s largest music festival.

Speaking of music festivals, Bankruptcy Beat all-star BottleRock was back in the news this week. According to the Napa Valley Register, the festival’s original producers are seeking to get $3 million back from an early investor. The money, if recoverd, is earmarked for BottleRock’s creditors in bankruptcy. BottleRock’s operator, BR Festivals LLC, filed for bankruptcy in February 2014 after incurring $8 million in losses from its inaugural production. Later in the year, investor group Latitude 38 Entertainment gave the festival life, hoping to turn its finances around.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa