A FESTIVAL at the Ricoh Arena which was billed as one of the biggest music events in Coventry ever has been cancelled.
Soundscape, a two-day outdoor music festival, was announced in September and was to be held in June next summer.
Event promoter Showtime Live said the festival was set to feature eight chart-topping artists, before day two hosts another eight leading acts from the indie, rock and alternative scene.
Major acts such as David Guetta had already been announced.
Managing director at Ricoh Arena Stuart Cain said: “We were surprised and disappointed to hear from the Soundscape Festival promoter that the event is being cancelled.
“It was a decision that came out of the blue, and as the host venue, it was a decision that was beyond our control.
“We’d like to apologise to everybody who was looking forward to the festival, as we were.
“If customers purchased directly from Ricoh Arena then refunds will be issued within the next ten days.
“Ticket holders who purchased via other channels should contact their ticket provider directly to seek a refund.
“Ricoh Arena still has a bumper summer of activity lined up which we can’t wait for.
“We have Catfish And The Bottlemen performing to a sellout crowd next month, before we welcome more than a hundred thousand people into the stadium bowl in June for performances from the Spice Girls, Bon Jovi and Monster Jam.”
A statement from Soundscape reads: “It is with a heavy heart and deep regret that we have to announce that Soundscape has been cancelled.
“Unfortunately the event’s major investors who had been in place since last year recently pulled out.
“This has put immense financial pressure on the festival.
“Overcoming these financial setbacks while trying to develop a new festival has become too much to bear and we have been forced to cancel.
“All ticket holders will be notified via details given at the time of purchase.
“Tickets bought via Ticketmaster, Ricoh Arena, Ticket Factory, Gigantic and Fest Tickets will be refunded immediately.
“Any-one else who purchased tickets are advised to contact their bank or credit card provider for a refund.
“We are extremely disappointed to be in this situation but under the circumstances in which we find ourselves, it is not possible to continue trading.”