The event was heavily oversubscribed and ready to roll before some form of clarity over social gatherings was finally issued by Prime Minister Boris Johnson on Monday afternoon.
Business Weekly CEO Tony Quested said: “We felt we needed to wait to make a final decision until the PM publicly ruled on social events and how the public should respond to them.
“If people are urged not to go into pubs and restaurants, they certainly should not be rubbing shoulders with people from many different companies at a champagne reception and sit-down dinner.
“The perspective and guidance the nation required was finally delivered on Monday afternoon after which there was only one decision to make.”
Business Weekly and the sponsors plan to hold the event later this year.
Queens’ College, which has been superbly supportive in recent days as the coronavirus crisis escalated, is already investigating alternative dates.
The judging process has been completed and the 30th Anniversary Awards has produced another superb set of corporate champions and their identities will be unveiled at a suitable juncture.
The Business Weekly Awards shortlisted companies can be viewed in Business Weekly's February 20 edition online.