There may be light at the end of the tunnel for independent music outlet Road Records. The shop, opened in 1997 on Fade Street in Dublin 2, had been scheduled to close in the coming weeks. Owners Dave Kennedy and Julie Collins blamed a shortage of footfall and an increase in illegal downloads, among other factors, for its demise.

However, plans for a “Save Road Records” investment club – involving members of the Irish music industry and others buying shares in the company – are currently being finalised.

“I can’t say too much about it yet, but yes, it’s true,” said Kennedy. “It’s a distinct possibility that we will carry on at this stage. I’m relieved, more than anything else.”

“It’s just brilliant news,” said regular Road customer Sean Kenny. “In a time of doom and gloom, it’s like a little fairytale. And I think it’ll teach a lot of people that that they should get out there and support their local indies before its too late.”