MCH Group has canceled its Baselworld watch exhibition in 2021, the trade exhibition company said on Thursday, a further blow for the event that was once one of the watch industry’s top showcases.

Rolex, Patek Phillipe and Chanel had previously said they would not exhibit at the industry showpiece that had been due to take place from January 28 to February 2.

Swatch Group, the owner of Tissot, Longines and Omega brands, had left Baselworld in 2019.

“Together with the exhibitors and visitors, we are working intensively on clarifying and discussing the requirements and options for new platforms,” said Michel Loris-Melikoff,Baselworld’s director. “We will be taking a decision on possible follow-up formats by the summer.”

MCH said it has also reached agreement with some of the exhibitors to refund them for the canceled 2020 event.

Hubert du Plessix, president of the Swiss exhibitors committee lauded Patek Philippe, Rolex, Tudor, Chanel, Chopard, and LVMH owned-brands Hublot, Zenith and Tag Heuer for agreeing to a reduced refund so the other exhibitors could benefit from better conditions.