But less than 24 hours later, a deal to hold the event at Wodonga racecourse on Saturday has been clinched which will ease some of the financial fallout among angry exhibitors.

The turf club has agreed to donate the use of the venue in a deal clinched late on Tuesday with 2AY and Outcross Media.

Site fees have been waivered for exhibitors and entry will be free.

The company behind the event, Explore Australia Exhibitions, has gone into liquidation owing $297,000, but director Paul Morgan said the decision to cancel the expo was made solely by liquidator, Gervase Consulting.

Wodonga racecourse is a proven major events centre with a caravan and camping expo held every year, and two years ago it hosted 3000 members of the Ulysses Motorycle Club for a seven-night stay.

It is vacant for the Labour Day long weekend.

“We've done this to help the businesses out there who have been hurt by the three-day event at Henty,” Racing Wodonga general manager Tom O'Connor said.

“We are an organisation that deals in event management and you like to see successful events being held in the region.

“There is obviously a lot of people hurting so you want to help out where you can and help them re-coup some of their costs.”

A statement released by Mr Morgan said: “We pleaded with the liquidator to allow the event to run, in the best interests of the venue, exhibitors, contractors, community and public.

“Almost two years had gone into planning and preparation.

“We're shocked and devastated.”

2AY general manager Brendan O’Loughlin said the Albury-Wodonga community had rallied to put together the event in Wodonga at short notice.

“We wanted to support not only those businesses stung but also to provide a pop-up show for the community to enjoy over the long weekend,” he said.