Alex James - Alex James' Fury Over Farm Festival Financial Collapse

The event, titled Alex James Presents Harvest, was held at the bassist's country estate in the Cotswolds in September (11) and featured performances from KT Tunstall and The Kooks.

The bash was deemed a success until just days later when Big Wheel Promotions, the company who organised the festival, ceased trading.

The British rocker has kept quiet about the incident for legal reasons, but now he admits he still feels heartbroken for creditors who are still unpaid.

He tells Britain's The Observer, "It was the best party I'd ever been to. (Then) they told me sponsors hadn't paid up and that the losses were substantial. I was shocked...

"The fact that people didn't get paid really, really upset me. But I had to follow legal procedures and unfortunately that meant not talking about it... Although I was simply giving my land for the festival, my major concern was making sure that, as I was seen as the host, everybody involved was paid on time."

James has since stepped in to help settle the debts by staging a concert in Chipping Norton, England in December (11).

He explains, "I pledged to match the funds raised from my own pocket, and we managed to return most of the money. I was very happy to do that."