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The festival, held in Borth near Aberystwyth in Ceredigion, last year had as headliners and played to about 5000 people.

Among the reasons given by the council for revoking the licence were "inadequate control, leadership and delegation demonstrated over staff and the event in general".

Festival director Chris Dare said, "The event was riddled with problems in our production, traffic management, security, on site management and more.

"There were a number of influencing factors for the events problems, from people not turning up, poor communication, and a number of unforeseen and unfinished issues with the new site, generally trying to do things 'on a shoe string' also caused problems.

"My most sincere apologies to the people the festival owes money to. This certainly is not the way I had intended for things to go."

On the festival's official website he said, "The Square Festival will be having a gap year in 2010
Recently the decision has been made not to host 'The Square Festival' in 2010.

"2009 was a difficult year financially and organisationally, there are many a crease that need to be ironed out before we consider hosting another event, And an increasingly competitive market for music festivals and the reasonably bleak economic climate has also added to the decision not host the event in 2010.

"In the future we will be going 'Back to basics' reduce the number of stages and the capacity to focus on delivering a well produced event. Our line up will be kept to an erratic nature and we aim to give a good dose of youth culture to the west coast of Wales.

"Thank you to everybody for your support to date. It has been quite an adventure. Pip pip cheerio, we'll be back soon."

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