SHOCKED villagers are reeling at the news their cherished local shop is closing after a U-turn by the owner on a buyout deal that had been agreed to save it.

Chale Green Stores, owned for nearly a decade by Vern Tyerman, a US-based businessman, was set to be purchased as a community asset by Chale Parish Council after year-long negotiations involving the Government’s Public Works Loan Board (PWLB).

Chris Smith, who currently runs the popular store with partner Jo Hofmann, said: “We weren’t expecting this, and we’re going to go bust if we can’t get this sorted.

“For a year the parish council has tried to purchase the freehold, but with the landlord pulling out and raising the rent we will have to cease trading on Sunday, October 20.

"It’s an absolute nightmare.”

The parish said earlier this year, Mr Tyerman approved the scheme, including the agreed price and a timetable for the handover by September.

The initiative had been endorsed in letters praising the move from Island MP Bob Seely and the Isle of Wight Council leader – and local Chale ward representative – Cllr Dave Stewart.

It had also received assistance and encouragement from the Isle of Wight Association of Local Councils.

However, the deal now appears to have been withdrawn.

Mr Tyerman has instead suggested a limited-term rental whereby he retains ownership.

Parish council chairman, Cllr Ron Groves, said: “We are stunned at the rug being whipped from under our feet.

“It is heart-breaking for the popular and hardworking couple, Chris Smith and Jo Hofmann, who have run the shop successfully for several years and are now faced with losing their livelihoods. "They have reluctantly decided they have no alternative than to shut up shop by the end of the month."

The parish council has called a public meeting to discuss the matter at Chale WI Hall on Monday, October 14, at 6.30pm.

UPDATE: Wednesday 2.10pm

Vern Tyerman told the County Press: "My late wife, who died in February, and I purchased the shop in 2004 to save it, developing it to add a deli and café and adapt it from a small local store into an attraction with knowledgeable staff, for which we won the Daily Telegraph Village Shop of the Year award within a few years.

"With sadness we moved on from the store in 2013. To prosper in this industry with all the national chains that have come to the Isle of Wight now requires vision, skill and adaptability to the environment.

"Sadly the people who took over from us didn't seem to share this view, closing down the café and deli in 2013 to run it as a small shop.

"We have had no communication from the tenants. Their leaving doesn't mean the store closes. I am confident of finding a willing operator — I'm not as pessimistic as the reports of the shop ceasing to trade if they leave.

"This personal attack on me is unwelcome and undignified on the part of the Parish Council. 

"The shop still has my commitment."

Regarding the upcoming Parish Council meeting, he said: "I warn them not to breach a confidentiality agreement — that we signed during negotiations — at the meeting."

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