The Homecoming Festival which was set to take place in Scotland at Irvine Beach Park on May 2nd and 3rd has been cancelled.
Acts including Reverend and The Makers and SCRATCH PERVERTS were set to play at the event.
However, unlike some events organisers they are not blaming the move on the economic downturn, instead choosing to criticise the local authorities.
"This is due to new demands from the council requesting 50 percent of the profits and a £60,000 bond on the land," a statement from those behind the festival said.
As well as this, the organisers expressed their "great regret" that the event will not be going ahead.
Those who had booked tickets for the festival will be entitled to a full refund.
It is also hoped that some of the bands booked to play the event will be able to perform gigs at alternative venues, although details of this are yet to be confirmed.
Earlier this year, Reverend and the Makers had to find a new guitarist after Tom Jarvis quit the band.