Ticket-buyers of the cancelled water sports and music festival Wheels and Fins in Kent will not receive refunds after its organiser was forced into liquidation.

The festival, which was due to take place on September 7-8 and feature artists such as Friendly Fires, experienced poor ticket sales which meant it was no longer financially viable, or attractive to investors.

Organisers Dave and Dan Melmoth cancelled the event – which has been run since 2012 – just days before its 2019 staging was due to kick off.

The organisers said in statement: “We have tried everything to avoid this outcome but have been unable to find a solution – to say we are devastated is an understatement. We have poured our hearts, souls and personal finances into the event as well as leaning heavily on private investors and friends.”

The statement goes on to say the company is unable to refund customers who bought tickets to the festival.

“We understand that this news will leave many of you angry and upset and we can only offer our genuine apologies. If there was any other way around this situation, we would have found it, but with ticket sales at the lowest they’ve ever been, it is simply impossible to salvage.”

A day ticket cost £36 and weekend tickets were priced at £67.20. The seaside festival had free admission until 2017.