The festival was due to have taken place at Long Marston, near Stratford-upon-Avon, Warwickshire between July 16 and 19.

Even high-profile names as New Order and The Prodigy were not able to save the festival.

Bands to play Reading

The Mean Fiddler group, which is promoter of the festival, said the two bands would instead play at the Reading Festival in August, which it also organises.

Muddy Glastonbury 97 was a hit

The Mean Fiddler's Vince Power said in a statement: "I really regret having to cancel the Phoenix this year.

"We have worked very hard to try and make it a successful event.

"The Phoenix has established itself as a unique and worthwhile addition to the festival calendar and I still believe it has a future."

Phoenix is the third major event to have been cancelled this year because of poor sales.

The statement continued: "Unfortunately, there have been poor ticket sales, which I believe reflects a national trend.

"The current exceptionally wet weather impinges on all outdoor events and, of course, there is also the big distraction of the World Cup just across the Channel.

"These factors have left us with no option but to cancel this year's event."

Refunds available

He thanked all the bands which had been committed to the event and the people involved.

Other bands which were believed to be on the festival's line-up include: Ocean Colour Scene, Echo and the Bunnymen, Kenickie, Run DMC, Natalie Imbruglia and Mercury Music Prize winner Roni Size & Reprazent.

The Prodigy will be added to the Saturday line-up at Reading and New Order will play on Sunday at the festival.

Phoenix tickets can now be exchanged for Reading tickets or a full refund is also available.