UPDATED 13:39*
THE COMPANY responsible for a key part of Cowes Week entertainment has announced it is closing down a festival in Weymouth due to poor visitor numbers.
The news that Mainsail's Bayside Festival in Weymouth, set-up to coincide with Olympic sailing events, was being cut short and the Cowes-based company behind it was going into liquidation, broke as the Isle of Wight Council announced it was looking for a company to take over the running of the Cowes Week Parade Village from next year, for the next three years.
The council is now in talks with Mainsail and other
parties with a view to ensuring the Parade Village runs as normal at
this year's Aberdeen Asset Management Cowes Week.
For the past three years Mainsail has run the village, which hosts bars, music, food and entertainment.
Mainsail has also been behind the two-week Bayside Festival in Weymouth, designed to coincide with the nearby Olympic sailing events.
But organisers have said that despite a capacity of 9,000 people a day, the most they have had attend has been less than 4,000.
The event was due to host concerts from live acts including Show of Hands and Chesney Hawks in coming days, but on Twitter organisers said today via @BaysideFestival: "Due to dire visitor numbers to Weymouth, Bayside Festival organisers
have elected to voluntarily liquidate the business and close the site."
An Isle of Wight council spokesman said: "We are disappointed to hear that Mainsail, who have made a valuable contribution to the regatta over many years, has gone into administration.
"The Isle of Wight Council is already in advanced negotiations with another company that has much experience in, and knowledge of, the Aberdeen Asset Management Cowes Week Parade Village with regard to providing the "Parade entertainment and leisure facilities including the Sail for Gold Bar.
"It is hoped an agreement will be reached over the next 48 hours that will ensure the Parade remains an integral part of the Aberdeen Asset Management Cowes Week spectator and entertainment experience."
*Stuart Quarrie, chief executive of Cowes Week Ltd said he was confident the Parade Village would go ahead.
Reporter: ross.findon@iwcp.co.uk