“Looking back, we are overwhelmed with pride and joy,” the statement added.
“From our humble beginnings to welcoming a beautiful, ever-growing audience, every moment has been a dream come true.
“Now, we find ourselves in different places, both personally and professionally and operating in different times.”
While a return to the festival scene has not been completely ruled out, organisers said the industry landscape was “challenging” and urged people to support independent events.
Former X Factor contestant Lucy Spraggan is also on the bill for the final festival.
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