The organiser of a charity music festival which flopped last month has apologised for leaving creditors thousands of pounds out of pocket.
The Big Stooshie Festival in Fife was arranged to raise money for two veterans' charities.
But it drew poor attendances, despite featuring headline acts such as James, Glasvegas and The Damned.
Organiser James Russell said he accepted "with huge personal regret" some creditors would not be paid.
The charities which were due to benefit from the event - Help the Heroes and the Soldiers, Sailors Airmen and Families Association - will not receive any money from the festival held at the Howe Country Centre in Giffordtown.
Mr Russell said in a statement on behalf of Big Stooshie Productions that he had started the process of closing the business due to insolvency.
"It is with huge personal regret that I acknowledge that some businesses and individuals have not, and will not, be paid in full for their services at the Big Stooshie Festival," he said.
"As managing director I accept full and complete responsibility for the financial failure of the event which I thought would be a huge success right until the last day of the show.
"However I believe that I was honest and upfront with everyone involved with the project from day one."
Mr Russell said he had personally paid "the vast majority of the costs" of the event, which he would not get back.
He continued: "The impression given in the press and media is that most of the contractors where not paid - this is simply not true.
"The majority of the overall costs were settled before the event through personal investment and advance ticket sales. All invoices submitted on Friday 4th and Saturday 5th May were paid in full.
"It is true however that there were insufficient funds after Sunday to pay the majority of the invoices due on the day or invoices due for payment after the event."
He added: "It is with sad realisation that all this effort and dedication would have been hailed as a massive success if the turnout was just a bit better.
"My personal conclusion is that it is a sign of the difficult financial times we live in... great idea but bad timing."