Photo: WENN.com

Guilfest is no more, with organisers pulling the plug on the festival after 21 years in operations, following a disastrous summer.

The team behind the festival have decided to end the annual three day event after 21 years. The 2012 Guilfest saw headline slots of Ash, Brian Ferry and Olly Murs but still brought in a loss of around £300,000 according to the BBC.

Speaking about his decision to end Guilfest, organiser Tony Scott said: "I'd love to see Guilfest keep going, but I think it's got to be somebody who takes the helm or somebody who would need deeper pockets."

He went on to explain why he thought Guilfest suffered this year, blaming the Olympics, other music events and the weather hit site, which he called 'a quagmire'.

"There was a lot of competition this year. The Olympics were on, a lot of people were going to that...There was Tom Jones playing up the road at Sandown Park, Bruce Springsteen was playing in London, and there was an awful lot going on around our weekend as well as the bad weather."

The news comes just days after the group behind Hop Farm and Benicassim was forced to go into administration.

Guilfest traditionally took place in Stoke Park, Guilford in July.

Below: Guilfest 2011