Derbyshire Dales District Council went out to tender in November 2022 and again in February this year after securing planning permission and completing the detailed design for the proposed conversion of Matlock's former Market Hall into a two-screen cinema.
This key regeneration project also includes enclosing part of the existing bus bay area to provide a new food & beverage/retail unit, enhanced public realm and new public transport arrangements.
An officer from the District Council's Regeneration & Place Team said:
"Following evaluation, unfortunately the second tender exercise has concluded without a contractor appointment, illustrating the significant challenge of delivering the proposed scheme within the current volatile construction market, which is impacted by high cost inflation.
"The positive news is that both the team at the District Council and the proposed cinema operator remain committed to working together to pursue this scheme for Matlock.
"Options, including more value engineering of the scheme and revisiting the programme with a view to a further tender or other procurement exercise in the near future, are currently under review. A further update will be provided in due course."