Skye falls in: Festival pulled

The Isle of Skye Festival has been axed after three years; it's reckoned organisers lost half a million quid last year when audiences were half of those expected.

Although some suppliers from the 2007 festival are still waiting for their money, organisers are plotting a comeback:

John Gilbertson, director of the festival, said: "Our intention at present is to start a phoenix company which will allow us to hopefully stage the event again in 2009.

"This will enable us to raise funds which we will put towards paying off existing creditors. We take our responsibilities seriously and this is currently our principal priority."

Hmm. Having managed to lose half a million last year, we'd have wondered if "setting up another festival which will pay for itself and for last year's" is perhaps the best business plan to be pursuing.