The fair, which was to move to Towneley Park this year after more than 50 years at Fulledge recreation ground, is unable to go ahead because of flooding.

Heavy rain over the weekend has left the ground sodden and organisers, the Showmen's Guild, do not feel it would be wise to try to set up the rides.

"We are absolutely gutted and it's a real shame," said Mr Owen Ralph of the Guild. "When we arrived on site on Monday morning to set up the rides the ground was just soaked because of the extreme weather over the weekend. Once the people started walking on the ground it would have just made it a lot worse so we don't think it is wise to go ahead with it. We wouldn't want to cause any lasting damage to Towneley Park. It wouldn't be fair on the town or fair."

The "Wakes fair" was forced to move because of the redevelopment of Fulledge recreation ground although it is expected to return there in 2009 or the following year. The event, which was to run from tomorrow to Monday, would have been the largest summer fun fair in Lancashire, featuring more than 30 rides and attractions.

Mr Ralph did speculate the fair could still happen this year saying: "Hopefully we will be back at Towneley Park later this year. We don't know exactly when because there is a lot to organise."