Nick Beard (38), who sells children's climbing frames and swings to the domestic and commercial market, said he had lost thousands thanks to "lack of foresight" from organisers.

"This is the second time I've been stung by the Royal Lancashire Show after last year's event was also cancelled due to bad weather. There has been a complete lack of foresight with organisers failing to implement any adequate contingency plans."

This was the first year the event had been staged on former quarry land at Myerscough, near Preston. Organisers took the decision to move sites after the event was cancelled in 2007 due to heavy rain waterlogging the showground at Ribchester.

Nick, whose business Woodstoc UK Ltd is based at Backridge Farm, Twitter Lane, Waddington, added: "I bought brand new climbing frames especially worth thousands of pounds, but these ended up just standing idle in the mud. It is extremely doubtful that small businesses will place trust or financial support behind the event again."

Organisers have apologised for the show's cancellation, but stressed they had to cancel on health and safety grounds. They admitted the event's future is uncertain with this year's cancellation costing hundreds of thousands of pounds in lost revenue. Show bosses will meet with sponsors to discuss whether the event will return next year.

Event chairman Gordon Roberts admitted: "The deluge over Wednesday night, Thursday, Thursday night and Friday was just too much for the field to cope with."