ORGANISERS of Kendal's Medieval Market have confirmed that this year's event is definitely off after a potential sponsor pulled out this week.

Market chairman John Studholme said the lack of interest and financial contributions from Kendal retailers had left the potential sponsor "shocked at the apathy and disinterest" of the event's major benefactors.

Mr Studholme said that although he could not reveal the name the sponsor, it would have helped to organise the event and could possibly have contributed funds toward the market.

He added that it would have taken around £2,500 to "underpin the event" in return for an estimated £300,000 spend by visitors.

"We thought there may be a chance to revive the event but it just hasn't worked out," said Mr Studholme. "The attitude of the town's traders and the two councils (Kendal Town Council and South Lakeland District Council) also suggests that they are not bothered so there is little point in taking a major financial risk in trying to stage it."

Kendal's Medieval Market has taken place each year since 1989 and attracted around 30,000 visitors to the town on Spring Bank Holiday.

Steve Finch, SLDC town centre manager, said the council had offered to support the event but was able only to provide a limited amount of funding.

The market also needed to work hard to attract more private funding from sponsors to remain "sustainable," he said.

"There are a couple of events, which have come on to the scene in Kendal, such as the Kirkland Festival, which are more interesting to sponsors," he said.

But Mr Finch added that traders in the town centre were being "short-sighted" in their failure to support the event.

In December, Kendal Town Council was asked by market organisers to contribute £2,000 but only awarded £900 to the event.

Kendal Mayor Marilyn Molloy said that the town council had not wanted the event to fold and "hoped that it would continue" in future years.

"We wanted to support the market and gave them the maximum amount of money we could," she explained.

John Owen, the market's publicity co-ordinator, added, "It will be interesting to see what happens on Bank Holiday Monday without the market. I have already received an unprecedented number of inquiries from coach operators who wanted to bring excursions but now they are going elsewhere."

The Medieval Market's organising committee will meet again in September to see if the event can be revived for 2006.