THE director of Bournemouth Literary Festival has announced plans to sell the event.

Lillian Avon, who launched it in September 2005, said she hopes that the new owner would “make the festival a bigger commercial success”.

The small annual festival which celebrates all genres of creative writing from around the world, has featured names including Croatian playwright, Tena Stivicic, Theo Paphitis of Dragons’ Den, and Howard Jacobson, winner of the Man Booker prize for Fiction 2010.

The festival has supported local artists and generated spin-offs including networking group, Bournemouth Creatives.

It was the inspiration behind the UK Business Books Festival which launched in September last year.

Debut Books, a subsidiary of Bournemouth Literary Festival which publishes guides for debut writers, and the website are also for sale.

The former Wentworth School pupil who now lives in Boscombe, said she felt “sad but optimistic” about selling the festival.

She said: “The whole method of selling books is changing. Borders has gone. Waterstones is struggling. Supermarkets sell books but mainly mass market books. Amazon is where people buy their books. But festivals also sell books.

“If a publisher buys the festival they could use it as a way to promote their artists.”

Ms Avon, who formerly worked in publishing, added that she has poured a lot of her own money into the festival. When she began six years ago she received a small council grant but received no taxpayers’ money since.

“It’s taken over my life. I spent six years developing it and spent all my savings on it. I can’t continue doing it,” she said.

Ms Avon added that she feels that the festival has benefited scores of writers across the area.

“I wanted to showcase local talent as well as big names. I wanted to dispel myths about how to get books published and give people proper information and networking opportunities,” she said.