/*
 * Reading in a text file with three separate value per line
 * 
 */

import java.io.File;
import java.io.FileNotFoundException;
import java.util.Scanner;
import javax.swing.JOptionPane;

public class SixASideBeachTextB
{
    public static void main(String[] args)
    {

      // One array for the team name, one for the colours and one for funds
      String [] teamName = new String[20];
      String [] teamColours = new String[20];
      double [] teamFunds = new double[20];
		int size = 0;
        
        // Populate the three arrays
        // Reads in a text file and separates the values, each into their own array
        try {
            Scanner scFile = new Scanner(new File("SixASideBeachTextB.txt"));

            while (scFile.hasNext()) {
               String line = scFile.nextLine();
               Scanner scLine = new Scanner(line).useDelimiter("#");
               
               teamName[size] = scLine.next();
               teamColours[size] = scLine.next();
               teamFunds[size] = scLine.nextDouble();                                             
               size++;

            }               
        } catch (FileNotFoundException ex) {
            JOptionPane.showMessageDialog(null, "Error! File not found");
            System.exit(0);
        }
        
         System.out.println("Success");
	}
}

===========================================================================

Here is what the text file looks like . . .

Mercury#red and green#1767.99
Venus#red#1565.34
Mars#green#2316.39
Jupiter#white#1452.12
Saturn#white and black#2198.19
Uranus#green stripes#1554.98
Neptune#yellow and orange#1567.76
Astroid#orange#1784.87
Comet#red and yellow#2776.56
Rhea#blue#1655.45
Callisto#blue stripes#1589.34
Io#light blue#2578.54
Europa#purple and orange#1686.66
Ceres#blue and black#2686.44
Luna#purple#1654.34
Titan#black and red#1876.98
Hyperion#green and dark red#2876.34
Janus#grey and red#1879.45
Oberon#black and yellow#1879.53
Ariel#black stripes#2876.34