A music festival set to clash with the Truck weekend has been cancelled.

A message on the website for the Indie Guitar Festival, which was due to be held at Crown Farm, Ascott-under-Wychwood, said: “We’re sorry to announce that this festival has been cancelled due to the bad economic climate. Any tickets purchased will be refunded within 30 days.”

The three-day festival — which had confirmed acts such as Starsailor, The Holloways and Mungo Jerry — was due to be held from July 24-26.

The 12th Truck Festival will take place on the same Saturday and Sunday at Hill Farm, in Steventon, with Ash headlining on the Saturday and local band Supergrass on the Sunday.

The Indie Guitar Festival — the first one to be planned — would have boasted two stages and a big screen. Weekend tickets cost £79.99.