A company has agreed to take over the Family Library and continue running its services - should funding be secured.

On Wednesday, the Family Library confirmed it will officially cease trading on July 31, marking the end of a much-loved community service that has operated for 14 years.

In a statement, the Westmoreland Road-based charity said it would also begin the process of winding down the organisation Family Library Ltd, with all lending services, including its mobile library and delivery operation, set to end on Friday, July 18.

It comes just weeks after the charity’s directors announced the library would shut its doors at the end of July due to ‘increasing costs and declining income’, but also issued an appeal for people to support them in the hopes of changing the decision.

However, the ‘Friends of the Family Library’ group now says it has secured a company and charity to take over from the current directors, but that funding still needs to come in to keep its operations running.

A spokesperson from the Friends of the Family Library said: ‘The Family Library Limited, the company and charity that operates the Family Library services, will cease trading on July 31 and directors will proceed to close down the charity.

‘The Friends of the Family Library have been working hard and we have been fundraising and looking at alternative solutions to continue the services.

‘We have secured a company and charity to take over and the services will continue, subject to funding.

‘Since the announcement from the Family Library Limited, the Friends have been having meetings with all relevant parties, and we appreciate all the support and donations given.’

The spokesperson said that should funding come in, an announcement on which company will come in to take over the library will be made in the next fortnight.

‘Tynwald have passed a motion which gives us an opportunity to have discussions, and we appreciate the time which is being given to understand our position,’ the spokesperson added.

‘The key now is continuing services over this transition period which is over the summer, and we have school summer holidays when we hold the summer reading scheme. The Friends and staff want to stay open but we need funding.

‘The Friends are not only looking at this transition period - we want to secure a strong future and we are working with the new charity to develop a business plan and operating model for these valued community services.

‘We wanted to say thank you for all the donations on the Just Giving page.

‘The Friends are safeguarding these used funds, and they will be used to prolong the services.’

While looking to secure further funding, the library highlighted the success of innovative services it pioneered, such as bibliotherapy, which will continue until the closure date.

The organisation expressed hope that some of these programmes, along with its assets, might be preserved and used by future initiatives.

All books and borrowed materials are currently set to be recalled in the final two weeks of July.