A British music festival featuring performances from Maximo Park and the Mystery Jets has been axed.

The Ringmaster event was scheduled to take place in Shropshire, England on 27 and 28 September (13) but has now been cancelled due to "unforeseen financial reasons".

In a statement, the music event organisers say, "The festival was no longer able to guarantee the appropriate monies owed to the bands and other parties. (We) would like to offer everyone their sincere apologies, in what has become a horrendous and saddening situation."

Ticket-holders can obtain a refund from the point of purchase.