Weezer's Broadway Residency Canceled Due to 'Low Ticket Sales' and 'Unbelievably High Expenses'

David Becker/Getty Scott Shriner, Brian Bell, Patrick Wilson and Rivers Cuomo of Weezer

After announcing an upcoming residency earlier this summer, Weezer's five-night stint at the Broadway Theatre in New York City has been canceled, PEOPLE has confirmed.

Weezer frontman Rivers Cuomo shared the news on the band's official Discord server, which was viewed by Pitchfork.

"I just learned that our Broadway shows have been canceled (due to low ticket sales and unbelievably high expenses). I'm very sorry to be telling you this now after we've already invested so much time, thought, and emotion," the post read, according to Pitchfork. "Extra apologies to those of you who cleared schedules and made travel plans to be with us. Thanks to @Broadway Producer for all your hard work and great ideas. I loved where we were going and I hope we can find a way to resurrect our vision."

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The residency was planned to take place from Sept. 13-17 in celebration of the band's four-EP project, SZNZ, according to a statement released at the time of the announcement.

Fryderyk Gabowicz/picture alliance via Getty Weezer in 1995

Tickets for the show, which was set to take place at the Broadway Theatre in New York City, went on sale June 24.

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In addition to playing some of their classic songs, each of the night's shows was going to correspond with one of the four EPs from SZNZ — which each match one of the four seasons, the release explained. The fifth night was going to be a mix of the songs from each EP as well as favorites from their discography.

While SZNZ: Spring, SZNZ: Summer are both out now, SZNZ: Autumn and SZNZ: Winter have yet to be released.

The band has been performing throughout the summer, recently appearing at the Outside Lands Music and Arts Festival in San Francisco on Aug. 7.