Beach Down Festival Cancelled

Organisers of this year's Beachdown festival have announced that the event has been cancelled due to monetary difficulties.

The recession has had a massive affect on British life. With thousands being made unemployed every month there is little money to go around, with large scale expenditures such as festivals suffering badly.

A host of festivals have been forced to strip down or cancel completely due to ongoing money problems. The credit crunch has left banks afraid to lend, and as a result already over-stretched events are falling by the wayside.

Beachdown is the latest to fold. The Sussex event had confirmed an all star bill including Super Furry Animals, The Zutons and Grace Jones. However the festival is not now able to go ahead, with organisers citing a "lack of support" in the current economic climate.

A statement from organisers claimed that they were left with no choice to cancel Beachdown, claiming they suffered from "slower than forecast ticket-sales and lack of support at a critical time from our bank and certain suppliers".

The statement reads: "Very simply we were unable to meet the demands that the current economic climate put against us and at the eleventh hour despite having most of the infrastructure in place we have been forced to cancel the event.

"We also wish to advise everyone that we explored every possible avenue to finance the event including re-mortgaging our houses to combat the unwillingness of banks to support us."

Those due to attend the festival are advised to "get information from the outlet that you purchased the ticket from in the first instance".

Beachdown was due to take place between August 28th - 31st.