The Sun says Young yesterday called off his wedding - just two days before the £200,000 ceremony.
But guests invited to their lavish wedding at five-star The Grove hotel and spa near Watford, Herts, have been told not to bother turning up.
Ashley last night refused to disclose why his marriage is now off.
Asked on the doorstep of his £1.5million home - with Nicky at his side - what prompted the last-minute decision, he said simply: "No comment."
Nicky confirmed the nuptials had been axed. She said: "Yes, we have cancelled our wedding."
Forcing a smile, she added: "Do I look upset?" Later she added: "It's not anyone else's business. It's not your life, it's mine."