Cash strapped Sheffield festival cancelled
A free music festival has been cancelled due to an £8,000 shortfall in funding, organisers have announced.
Peace in the Park, in Sheffield, has been postponed until 2014 over fears of meeting the estimated £20,000 cost.
Organiser Barney Harris said cancelling next month's event was preferable to "bankrupting the festival for years to come".
The three-day festival, which began as an anti-war protest in 2003, attracted about 8,000 people last year.
Peace in the Park is entirely financed by advanced fundraising, donations and revenue generated over the course of the weekend.
Mr Harris said: "The money that goes into the festival comes from the people and that's maybe why we've seen a drop as people are struggling a bit more, what with the recession.
"With six weeks to go we could not risk not getting that money and then basically bankrupting the festival for years to come.
"We thought it better to take a fallow year and then guarantee another 10 years of Peace in the Park in the future."
In 2012 the event included live music, DJs, arts and crafts, circus performers and a cabaret.
The festival has been scheduled to take place on 4 June 2014.