The UK leg of Sonisphere festival, set to take place at Knebworth on 6 â 8 July, has been cancelled.
The festival was due to host headline sets from Kiss, Faith No More and Queen featuring former American Idol contestant Adam Lambert. But organisers have made the decision to pull the plug on this year's event, stating "circumstances have dictated that we would be unable to run the festival to a standard that both the artists and that Sonisphere's audience would rightly expect."
Read the full statement from the organisers below for more details. There is, as yet, no word on whether the organisers intend to stage the event again in 2013.
Official statement from Sonisphere:
"It is with very heavy hearts and much regret that we announce the cancellation of Sonisphere Knebworth 2012.
"Putting the festival together in what is proving to be a very challenging year was more difficult than we anticipated and we have spent the last few months fighting hard to keep Sonisphere in the calendar. Unfortunately circumstances have dictated that we would be unable to run the festival to a standard that both the artists and that Sonisphere's audience would rightly expect.
"We want to express our deepest regrets to the artists and to thank all the staff, suppliers and contractors who worked so hard with us to try and pull off what has share in our disappointment. We also want to send a huge thanks to the Sonisphere fans who stuck by us and we are so sorry that we can't fulfil what we set out to do.
"Ticket holders will automatically receive a full refund direct from their ticket agents."