The organisers of the Picture Editors' Awards are hoping to reschedule the event for May, after receiving backing from the industry to continue.

It had been announced that the event would not go ahead this year because of a lack of funding.

But a positive response from the industry has led the organisers to become hopeful of resurrecting it this springtime.

Event chairman Glyn Genin said: "A lot has happened in the few days since we had to announce that the Picture Editors’ Awards were suspended.

"Along with the flood of emails from photographers, picture desks and others involved in photographic journalism, all supportive and generous in their praise, we have been approached by a number of leading picture agencies, newspaper groups, and photographic companies, who may be able to offer financial support.

"We are now working with these and our legacy sponsors the City of London and Fujifilm, in an attempt to reschedule the 2007 Awards, hopefully in time for a presentation ceremony in the Spring.

"We are cautiously optimistic from our initial discussions that there will be a positive outcome.

"Clearly the industry itself does not intend to let the Awards, a benchmark for press photography for so many years, die."