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I am pretty sure they didn't cancel the day of the show. They quit one week before the show.No it didnt, they had to cancel it like the day of the show.
That is a massive loss of money, already. Think of all the ticket sales they had to return after renting a fucking arena
Barnett tested positive in July. The fight was in August. They had a little less than 2 weeks to find a replacement. They folded around 2-3 days after news of Barnett failing the test came out. They also rejoined the UFC as their sponsor on that same day. They could have found a replacement. They could have rescheduled. They did that for the second event when Fedor got hurt.