The cancellation of the festival, which is held in Co Clare for the entire month of September, is said to be a €2.5 million loss to the local economy.
Organisers have said that the performers booked for this year's events will be rescheduled to next year.
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The festival, which has expanded in recent years to include a LGBT+ weekend, and country music weekend, is one of Europe's largest matchmaking festivals, attracting thousands of tourists to the north Clare village each year.
