Organisers have revealed that the sixth Hop Farm Music Festival has been cancelled.

The event's future had been in doubt after it was announced earlier this year that the Paddock Wood tourist attraction was to close after suffering "significant losses" in the recession.

But founder Vince Power spoke out in March, adamant that the two-day event would definitely take place on Friday, July 5 and Saturday, July 6.

My Bloody Valentine and Rodriguez had been confirmed as the headline acts, with other well-known names due to perform including The Horrors, Jimmy Cliff, The Cribs, The Presidents Of The United States Of America, Martha Wainwright, Edwyn Collins and Gaz Coombes.

Only last week, Britpop band The Lightning Seeds were the latest act announced.

But today, Mr Power released the following statement: "It’s with great regret that we have to announce the cancellation of the Hop Farm Music Festival 2013.

"We have worked very hard to try to make it work but it has proved too much of a mountain to climb and despite fighting hard, circumstances are such that based on poor ticket sales and the forecast selling rate substantial losses would be made.

"It is a surprise for us that after eight weeks of heavy marketing and with such a great bill that we have to cancel, though we are convinced this does not reflect on the artists, it highlights the poor economic climate.

"We would like to thank all the staff, suppliers and contractors that have also worked very hard to try and put the festival on again this year.

"We have to thank the artists and agents that have supported us over the years and for this year’s acts to know that it has been a very hard decision to make, and we are very sorry that we are not able to have them play.

"We would also thank the fans that have supported us over the past five years, it is with great sadness that the decision was made."

Ticket holders will receive a full refund from their ticket agents.

Visit www.hopfarmfestival.com