As reported by Metal Hammer:

The inaugural event in Kettering, Northampton, was to take place in just over two weeks – on the weekend of August 15-17. Headliners included Fields Of The Nephilim, Marilyn Manson and The Cult. Also lined up were Gary Numan, Killing Joke and over 170 others.

Manson tonight updated the gig listings on his official website and on Facebook, with Alt-Fest now marked as “cancelled”. Other acts due to play, including Cradle Of Filth, have also reported that they have been told the event is off.

While there has been no confirmation by the organisers, this slow-motion collapse seems very reminiscent of Memories of Woodstock back in 2009, when an over-ambitious promoter bit off more than he could chew, booked a lot of big-name bands and then failed to sell enough tickets to cover their fees.

With the way news is leaking out via the bands while the organisers have merely promised some sort of announcement on Monday, I’m seeing a lot of recriminations flying online. It’s very difficult to imagine the festival actually taking place.

In retrospect, the whole thing looks ridiculously over-ambitious, with 170 bands across seven stages in an already saturated UK festival scene.

Update: Altfest have posted on Facebook confirming the festival is cancelled. As suspected, lack of ticket sales is the reason, and reading between the lines it looks as though poor financial planning played a part. It does look as though the organisers lacked the necessary experience to put on a festival of that size.