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Forgotten Fields festival, which was due to have indie stars Suede and rapper Dizzee Rascal as headliners, has been cancelled.
The 4,000-capacity boutique festival was due to take place at Eridge Park, Eridge Green, between August 5-7.
Dublin rock quartet Kodaline were set to make up the final headline slot, along with R&B star Kelis, Geordie rock heroes Maximo Park, gritty Southampton rock trio Band Of Skulls and singer Newton Faulkner.
But today organisers made the shock announcement that the festival would no longer be going ahead.
A statement on their website said: "We are hugely saddened to let you know that Forgotten Fields 2016 is no longer going ahead.
"It’s with heavy hearts that we let you know news of this cancellation and would like to thank you for your support of the event.
Due to the rising costs of producing a quality event of this size, we are unable to produce a show that is of the standard both our team and customers would be proud of.
"After thorough consideration of the event and exhausting all options we have sadly reached this conclusion. It was an exceptionally difficult decision to make and hasn’t been taken lightly."
Ticket holders have been promised refunds, to be applied through via the original point of purchase.
A ticket swap for another festival, Standon Calling in Hertfordshire from July 29-31, is also being offered.
For full details of refunds and ticket swaps click here