After almost 20 years of running the Palace Cinema in Haverfordwest, the owners announced they will not renew the lease as they look towards retirement.
It leaves the cinema, which was first opened over 100 years ago in 1913, on the edge of drawing the red curtain for good.
But now a team are putting together a bid for the local community to run the cinema.
Friends of the Palace Cinema intend to apply to the Community Ownership Fund for up to £250,000