GUILFEST organiser Scotty Events Ltd has ceased trading after the annual music festival in Stoke Park, Guildford was marred by one of the wettest July weekends on record.

Tony Scott, 50, who founded Guilfest 21 years ago and saw the event blossom into one of the UK's most popular festivals, blamed his company's failure on poor ticket sales this summer.

A statement by the company read: "[The poor sales] were down to the worst weather we have experienced in history of the festival, combined with intense competition presented this year from other events."

As well as the bad weather, this year's Guilfest came just weeks before the opening of the 2012 London Olympics and coincided with other local events including the Farnborough Airshow and a packed schedule of cultural events in the capital.

For full story, see this week's Alton Herald.