Looe Music Festival, the three-day event based in Cornwall, has been cancelled after the event’s host charity went in to administration.

The announcement was made on the festival’s twitter account, just weeks before the event was set to go ahead on September 21.

The annual festival welcomes visitors from across the country and it is estimated that the event brings in around £18 million to the local economy, over the entire festive period. The Mayor Councillor Armand Toms has confirmed that acts previously booked by the town’s pubs and other live event venues will still perform.