I just spoke with Dave James on the phone. Details will appear on the festival website in due course, but the gist is as follows:

This is a one-year-only hitch. The Festival had some of its financial backing withdrawn - for this year -, but I understand that the town elders are seriously disappointed about the cancellation, and this gives rise to hopes for guaranteed funding next year (a meeting on this is to be held this evening).

In any case, the Festival WILL run in 2006, with the same lineup as published for 2005, plus more artists (here's hoping, EG) if funds allow.

This is not a permanent closure therefore. Just a one-year stay, not dissimilar to the one that affected Sidmouth.