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The credit crunch claims another festival

The inaugural Red List Live festival has been cancelled due to the current economic crisis, organisers have said.

The Zutons, British Sea Power, The Wombats and The Wedding Present were due to play the festival, which would have taken place at the Port Lympne Wild Animal Park in Kent on June 19-21.

Organisers of the event, which was aiming to raise £1 million for animal charity The Aspinall Foundation, said the “unacceptable risk” offered due to the economic crisis proved too much.

“Directors of Red List Live – a multi-events project conceived as a fundraising initiative for endangered animals – have been forced to postpone plans for an inaugural festival to be held at Port Lympne Wild Animal Park in Kent this summer.

“A primary consideration is the obligation to the charitable aims the festival was set-up to support. Red List Live was due to donate a sum of money from the event to The Aspinall Foundation which is committed to conservation through captive breeding, education and reintroduction.

“The decision has been made at an early stage, before final acts were booked, promotion began and site work undertaken, as a pragmatic response to current troubled and uncertain financial conditions.”

The statement added that organisers plan to bring Red List Live back in 2010.