It happens due to reasons out of your control. Here are the suggested steps to take to in cancelling out your event.
To prevent anymore registrations, within the Event Details section, change the status of your event from Publish to Cancelled
Notify your athletes, you can send a quick email directly from your event under Email Athletes/Volunteers
Begin your refund process. Go to each athlete, and click "..." and then "Refund" (Learn more here)
Please note: You must have a balance in your Stripe account to issue a refund. Competition Corner is unable to offer refunds on our processing fees