CRISIS-HIT Ignition Festival has been cancelled.
Organisers had been fighting to save the festival after the venue, Newcastle Racecourse, withdrew its support last night stating Ignition had failed to abide by contractual agreements.
Those behind the event spent the last few hours trying to reassure thousands of ticket-holders that the live music festival would go ahead this weekend.
But they finally conceded defeat with a statement on Facebook.
It said: “With deepest regret we are now in a position to confirm that Ignition Festival 2011 will not be going ahead.
“Despite every effort to keep this going after this was cancelled yesterday by Newcastle Racecourse.
“We have been in discussions with Stephen Savage from Newcastle City Council with regards to relocating the event.
“Unfortunately this was not possible due to residential issues and time constraints.
“We would like to thank Newcastle City Council for working with us since yesterday to try and make this happen as well as Northumbria Police.
“We would like to apologise for all of the inconvenience and upset caused to the people involved. We have full intention to reimburse all holders for the tickets purchased.
“Be assured no salaries or expenses have been drawn by directors or shareholders at any time. And although this is of no compensation, all involved will be taking a large financial loss.
“Please send any refund requests to email@example.com and we will endeavour to contact all ticket holders as soon as possible.”
Top acts including Calvin Harris, Frank Turner, Echo and the Bunnymen and Feeder were due to perform at the festival.