YG Entertainment has officially announced that 2NE1 will be disbanding.

2NE1 shocked fans today with an announcement that the group will be disbanding and, in turn, crushed any hope that CL would return to the group for a comeback.

CL and Sandara Park have re-signed with YG Entertainment as solo artists. Park Bom has not re-signed with the label.

Here is the fully translated press statement by YG Entertainment:

As of May 2016, 2NE1’s exclusive contract with YG was over and, seeing as Minzy was no longer able to continue with the group, YG, along with the members, have decided to officially disband 2NE1 after many discussions.

As 2NE1 has been the representing girl group of YG for the last 7 years, we cannot express how sad we are, however we have decided that it would be too hard for them to stay as a group. Rather than waiting on the 2NE1’s uncertain return as a group, YG has decided to focus on the members’ solo careers.

We would like to thank everyone for their love and support for 2NE1 and their music.

As of 2016 May we have signed solo artist contracts with CL and Sandara Park, and Park Bom has not resigned with YG.

WINNER also announced in breaking news that Nam Taehyun would be leaving the group permanently. However, the group will continue on without him.

Stay tuned for more updates on this breaking news.

Source: YG Entertainment