A plan devised by the local community to purchase a cinema in Abergavenny has fallen through after the steering committee decided it was no longer financially viable.

It means the future of Baker Street Cinema remains uncertain following the news that the historic building would be going on the market in April this year.

The Abergavenny Community Cinema Society was subsequently set up after the concept of a community purchase was received very warmly on social media and several community meetings resulted in the establishment of a committee to lead the way on plans for the purchase.

But in a statement this week, the Chair, Esther Weller, confirmed that, having sought financial advice on the matter, plans for a community purchase were to be scrapped.

“Our main concern lay in the financial operation of the cinema,” she said.

“There seemed to be so many issues stacked up against us being able to create a viable and robust business model as a community enterprise and as a group we were not willing to risk the community’s money.”

“The strict demands of the major film distributors, our proposed monthly outgoings and a considerable focus on bringing sufficient numbers back to the cinema, despite a change in viewing habits were some of the challenges that made running a viable community cinema in the Baker Street venue seem increasingly difficult.”

The group had already completed the process to become a Community Benefits Society which meant that they would be able to sell shares in the cinema. But on Wednesday September 24, the Board of Trustees took the difficult decision to not progress with the purchase.

However, plans to bring some form of community cinema to the town haven’t ended. Although the formal society will remain in place, it is going to remain dormant while the group considers its alternative plans and has said it would like to come up with a “plan B.”

“All of the members of the committee were incredibly sad making the decision to end the Baker Street project,” Ms Weller continued.

“We all started the project full of enthusiasm and passion about taking on the Baker Street venue and rejuvenating it into a community cinema for everyone in Abergavenny and beyond.”

“Our plans have not completely ended. Depending on what happens to the current cinema, we would like to eventually consider a Plan B and look at alternative ways of establishing community cinema here in Abergavenny.”

“The committee are grateful for all the support they’ve received from the community. Particular thanks go to the organisations who have given their time, expertise and resources to the campaign and members of the community who had pledged to volunteer their time and support throughout the campaign and beyond.”

“Finally the committee would like to say a heartfelt thanks to the current owners of the cinema for their support. They appreciate the knowledge and experience that they shared with the committee and wish them well in their future at Baker Street Cinema and in their retirement.”