The founders of the elite fabric show have expressed their disappointment that they have had to axe the show after just four years.

The last show was held two months ago in London and attracted more than 70 exhibitors, 200 collections and 2,000 visitors.

In a statement, Sandy and Phil Phillips said: "We regret to announce that we have decided to close the elite fabric show. Although the number of exhibitors and visitors has increased 400 per cent, we feel that the show has not achieved the size that the UK market deserves.

"From the bottom of our hearts, we wish to thank these loyal exhibitors, visitors and trade press who have supported us over the last four years."