THE Fairweather Festival organiser has spoken of his 'heartbreak and devastation' after the event chalked up substantial financial losses.

Callum Fairweather said the festival, held at Sandown Airport at the beginning of the month, had not raised any money for the Isle of Wight Youth Trust as planned.

He also said it was the final Fairweather Festival and the event would not continue.

In a Facebook post today (Thursday), Callum, 23, said: "Since watching Mumford and Sons at Bestival in 2010, it had always been my dream to create my own festival.

"After suffering from serious mental health issues myself, I put all my energy into creating an event which creates those feelings but also makes a difference and has a positive impact to mental health.

"The past two years have been a whirlwind as I've learnt how ruthless the live events industry is. For someone of my age to attempt an event of this scale is unheard of anywhere.

"You, the wonderful people who have come to the two Fairweather Festivals, have only seen its successes and smiles. For me and behind the scenes however, it's been a completely different story.

"I am absolutely devastated to announce that, due to the festival's substantial financial losses this year, we were unable to raise any money for our chosen charity, the Isle of Wight Youth Trust.

"I'm heartbroken. I tried my absolute hardest to create the best event I possibly could for a reason so close to my heart but unfortunately things went incredibly wrong.

"The reasons come down to trying to grow the event too quickly and unfortunately the numbers attending didn't match our expectations.

"The blame, quite rightly, lies with myself as the organiser.

"I am currently looking into all possible solutions to solve any outstanding financial commitments.

"Due to both the financial situation and my own mental health, I'm devastated to announce that, as things stand, 2018 was the last Fairweather Festival.

"Lastly, I want to leave everything behind with this message: it really is ok not to be ok. Sometimes we feel like everything and everyone is against us and there will never be a way out. 

"Trust me, a problem shared is a problem halved. Take that one step and talk to someone. Anyone. It might just save you.

"Thank you for the memories."

UPDATED 12:46: Isle of Wight Youth Trust chief executive Mairead Healy said she was 'deeply saddened' to hear about the financial losses and called for understanding from those owed money.

"The trust has not and will not be receiving any donations from the event. We understand that many suppliers involved in the event have not been paid and that organisers are seeking solutions to resolve this situation as best possible," she said.

"This festival had been organised as a mental health festival and we understand the loss incurred will have far reaching impacts on the mental health of all involved. 

"We hope that during this time, despite understandable anger and frustrations, we are able to act with empathy in appreciating the impact of such financial loss on all involved parties."