CRICKHOWELL’S Corn Exchange campaigners have a ‘so near, yet so far’ dilemma in their quest to stop the High Street pub being taken over by a supermarket chain.

They have raised sufficient funds to buy the building - but not enough to convert it into affordable rental flats and small community shops.

Top players in the fight to secure the pub’s community-based future have a crunch meeting this week to discuss whether Corn Exchange owners Punch Taverns can make concessions on the asking price of around £350,00, plus VAT.

It’s hoped a compromise on the finances can be reached to offset the threat of a supermarket concern winning the day and robbing the town of its coveted reputation as a no-go area for national chains.

Campaigners are also fearful that traders will be put out of business if the supermarket scheme succeeds.

The newly-formed Corn Exchange Community Investment Group (CECIG) - made up of financial backers - say they can achieve their objective if Punch accept a ‘reasonable offer.’

CECIG Chairman Dean Christy said: “Despite a fantastic response from the people of Crickhowell, we do not yet have enough money pledged to buy The Corn Exchange at the price Punch Taverns are currently asking and then convert the building for local people to use.”

But he warned, “Buying this historic building and not being able to do the necessary work would not be in anyone’s interests.

“So if we don’t have more pledges, or if Punch won’t budge on price in our meeting this week, we may have to consider whether we can go ahead at all.”

He added. “Not doing so would be a terrible disappointment after so many people have lodged objections and have pledged their money for this extraordinary community initiative.”

More than 2,500 people wrote formal letters of objection to plans to convert The Corn Exchange into a supermarket convenience store submitted by Punch.

The plans were later withdrawn. But with the supermarket chain known to be interested, the campaigners fear the building could be quickly sold off if they fail to reach an agreement.

Punch have been cooperating with the town and have extended their selling deadline several times to allow campaigners time to bring forward other ideas.