The organizers have said on their website that:

"After the amount of work we have put in over the last six years to make Underage Festival the successful event it is today, it is incredibly sad that we have to make this decision, and one that has not been made lightly."

Customers will be offered refunds by their original ticket-vendor in due course. 2013 should see the festival return to its spiritual home of Victoria Park (rather than the enforced relocation to Shoreditch Park arranged for this year).