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Wheels and Fins festival has been cancelled over what organisers are calling "financial constraints".
In a statement, those behind the Broadstairs festival - which this year was due to have Friendly Fires and Slaves headlining - say it is with "absolute heart-breaking agony" they have had to scrap the event, little more than a week before it was meant to be held.
"Due to financial constraints on our small growing independent festival we have been forced into the devastating decision that Wheels and Fins festival 2019 has been cancelled," a spokesman said.
"To the artists, traders and suppliers who we have worked tirelessly with all year, we apologise for the huge inconvenience this causes.
"To our loyal ticket holders we are truly devastated to disappoint you and thank you for your continued support.
"We will have a more detailed statement to make in the coming days and ask that you please bear with us as we work with our ticketing partners and legal representatives to prepare the next steps."
The event was due to be held on September 7 and 8 with artists including Friendly Fires, Slaves, Mystery Jets, Willie J Healey, Lady Bird, Killing Giants and Ditz.
It was located at Joss Bay on what was to be the biggest site yet and with three stages.
Visitors were promised demos from the best pro-skateboarders and pro-skaters as well as surf and paddleboard competitions.
Drum n' bass label Hospital Records was set to bring S.P.Y, Kings Of The Rollers, Logistics, Nu:Tone, Etherwood, Whiney, Uncle Dugs, Inja, Dynamite MC and Degs to The Bunker on the Saturday and legendary club brand Ministry of Sound was bringing a line-up including Noisia, Redlight and Killer Hertz on the Sunday.
The annual festival was started by Dave Melmoth and his brother Dan seven years ago and initially was a free event but became paid for two years ago.
Day tickets started at £40 or £75 for the weekend for adults.
The news comes a week after Southbeats festival in Sevenoaks was cancelled due to poor ticket sales.
Dizzee Rascal and Example were due to perform at the event.
