TOWN centre businesses blighted by the uncertainty over the £95 million Western Sector development, have been hit by another setback with the news that the financial backers had withdrawn its funding for the scheme.

Great Portland Estates announced last week that it had reached an agreement with the scheme's developer MAB to withdraw from the funding of the joint venture.

Around 13 businesses around the developed area were first issued with Compulsory Purchase Orders (CPOs) by Wycombe District Council, MAB's partner in the scheme, in 1996 to make way for the Western Sector, a rough triangle bordered by Oxford Road, Abbey Way, Bridge Street, Denmark Street, Desborough Road and Lily's Walk.

The CPOs were confirmed following a public CPO inquiry in the summer of 1999. The shelf life of the present CPOs is July 1, 2002.

David Buller of Wellings Commercial in Castle Street, High Wycombe, wrote to Lee Dawson, head of valuation services at the district council in January this year following press reports that GPE wanted to withdraw from the funding agreement.

In his letter Mr Buller pointed out: "My client's concern, and no doubt other affected businesses have similar concerns, is how to plan his business. He has already experienced considerable difficulty in recruiting and retaining staff as a result of job insecurity."

Mr Buller said this week: "If the financial backing is not in place the scheme will not go ahead. We are going round and round in circles.

"I hope the district council will try and progress matters."

Cllr Alan Fulford, district councillor with responsibility for the scheme, said: "One of the things of great concern to me is the effect on the existing businesses that are subject to CPOs.

"I am mindful of the effect on these people. Whatever happens we will give as much notice as we possibly can."

David Easson, managing director at MAB, said the company was now free to go to other parties which want to fund the scheme.