Following October's reports that Dun Laoghaire Festival of World Cultures had made a huge loss in 2010, it has now been confirmed that the annual celebration of global music and arts will not go ahead in 2011.

After it was revealed that the festival had made a loss of €400,000 more than expected in 2010, an online campaign was set up to try to save the event, which had been recommended for suspension. It has been unsuccessful, however, and the Irish Independent is now reporting that the festival will be replaced with "a smaller series of public events, with a budget of €400,000, including a 10km road race, a model railway expo, and the Dublin Bay Taste and Music Festival."

Dun Laoghaire Rathdown county manager Owen Keegan previously stated that it would take time to establish a "sustainable festival model ... based on sound legal and economically efficient processes", and that it would be "very difficult to have a sustainable festival in place for 2011".

Wow, January's depressing.