The organisation had been in talks with the Charity Commission since September 2007 to try to stay afloat, but last week decided to close, having failed to find a solution.
The charity's co-founder, Falklands War veteran Simon Weston, said: "While it is a very sad day, I am very proud of what we have achieved and would like to express my personal gratitude to our many friends and supporters who contributed to a very special organisation."
Weston Spirit worked to promote the development of socially excluded young people in England, Wales and Northern Ireland. It has worked with more than 85,000 young people since its launch in 1998.
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