On March 5, 2024, Groupe Juste pour rire inc. (JPR) filed a Notice of intention to make a proposal under the Bankruptcy and Insolvency Act in Canada, signaling a move to restructure due to financial difficulties. The board decided on restructuring after exploring all alternatives, aiming to attract investors or buyers to maximize stakeholder value and maintain operations. Despite plans to continue JPR’s operations on a reduced scale, the 2024 Just for Laughs festival has been canceled, with hopes to resume in 2025 post-restructuring.

JPR’s financial woes stem from challenges in the media and free festival industries, exacerbated by the pandemic's operational halts and subsequent inflationary pressures. The media sector's consolidation and budget cuts have further strained their finances. The restructuring aims to revitalize JPR, ensuring its long-term viability and preserving the legacy of the 40-year-old Just for Laughs festival.