ORGANISERS have confirmed that the Ivylive festival will no longer be run – due to low numbers and 'lack of money'.

The event, which ran successfully for the fourth time in 2011, was due to take place again this year – but organisers could not sustain it financially.

Last year's festival saw around 2,000 people watch renowned acts including Reef, Sandi Thom and the King Blues, and each year the festival had gone from strength to strength.

But Sally Potter – one of the event managers – said that finance had become a limiting factor.

She said: 'It's such a shame we've had to stop running it.'

'But we just couldn't keep it going.

'The tough economic climate, where people are worried about the future, has meant that people are not quite as prepared to spend their money.

'The festival sales have suffered as a result.

'Although it was popular and people will miss it, it wasn't quite popular enough.'

Local music lovers have expressed their disappointment at the news, saying that the festival was a great event in the social calendar.

Lucie Balchin, who attended the festival in 2010, said: 'It's a shame it's gone,

'It was chilled out, easy to get to and great fun.'