WALTHAMSTOW's popular summer festival will not go ahead this year, according to the McGuffin Film Society.
The festival, which has been running since 2003, attracts thousands of people to the Town Square over three days for live music and entertainment.
Members of the society, which runs an open air cinema as part of the festival, claim Waltham Forest Council has decided not to fund the festival this year.
Society founder Bill Hodgson said: "The fact Walthamstow has lost its festival is a blow because it is the only cultural event in the town centre that embraces everyone.
"The Walthamstow Festival has become one of the area's cultural highlights and it will be sorely missed.
"It is very disappointing that the borough will also now lose its only large-scale cinema event as well, as a result of this decision."
Mr Hodgson said it would not be viable for the open air cinema to go ahead as a standalone event.
The festival was started in 2003 as a community event in response to the closure of the EMD cinema, but the council offered financial support after the event gained popularity.
Festival founder Chris Meikan said it was unfortunate the festival is not going ahead this year, but the council is preparing for a big event in the borough in September.
The Guardian is awaiting a comment from the council.
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