The poor response to the North West International Business Convention, which would have taken place on June 8 at the Manchester International Convention Centre, has baffled the company behind it, Yorkshire-based Regional International Business Conventions.
Chief executive Mike Firth said today: "It is surprising and disappointing as we thought the Manchester event would do well.
"We have been running conventions in Yorkshire for a decade now and they sell out and attract delegates from across the world, and really put the region on the map.
"The Manchester and north west economy is arguably out-performing that of Leeds and Yorkshire and we thought the market would be strong and that the event would raise the region's profile further still."
This is the second time the event has failed to grab the attention of Manchester's corporate movers and shakers.
Tatton Park
A convention, run by a separate company, at Tatton Park was held in 2003.
Despite attracting 2,000 guests, the event which featured astronaut Neil Armstrong, Peter Mandelson and Sven-Goran Eriksson, lost é50,000.
Organisers said they would not be repeating the event, and there had not been enough support from businesses.
Speakers booked to appear along with George Bush Snr included Coffee Republic co-founder Sahar Hashemi, blind explorer Miles Hilton-Barber and comedian Tom O'Connor.
Mr Firth said only around 100 out of the 800 places available had been sold. Companies which have bought tickets will be refunded.
He said: "With high profile speakers you can't play to an empty hall. To be fair to Manchester there has been a number of events recently there so perhaps the budgets were not there this year."
Tickets for the doomed event cost between é250-é265 each plus VAT.
He said George Bush senior, pictured, would still be coming to headline the event in Yorkshire. Tweet
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