The Organisers of Inis Fest say it's unlikely the event will go ahead again this year.
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Over one thousand people attended the music festival at the Showgrounds in Ennis each night last June, providing a massive boost to businesses in the town.
But financial losses in the region of 100,000 euro were incurred by the festival organisers due to disappointing ticket sales after the event was forced to change venue on the back of complaints from residents in the vacinity of Tim Smyth Park.
Darren Purtill from Impresario Events says efforts to secure a financial backer for a repeat event have so far failed.