'We have run out of time' - Electric Picnic will not go ahead this year

The festival's organisers have said that anyone who has already purchased a ticket will have the option of retaining it for next year's event. File Picture

Electric Picnic will not be going ahead this year, the festival's organisers have announced. 

In a statement issued this evening, the team behind the festival said they had "run out of time" in their efforts to reverse a recent decision by Laois County Council to not hold the event.