THE gaping hole in Lydney's high street left after the closure of Woolworths could soon be filled with a new superstore if a proposed business deal goes through.
It is believed that The Range, Home, Leisure and Garden store has signed an initial deal with chartered surveyors K J Toombs Commercial.
A spokesman for The Range said: "As of yet, nothing has been finalised and it could still go either way."
Chartered surveyor Kevin Toombs agrees that the deal could still fall through.
He said: "I think this store would be welcomed by the town. The building is approximately 5,000 square feet on the ground floor and 3,500 square feet on the first floor.
"I think this company will try to use some of the upstairs space for retail which will mean it becomes an even bigger retail space. I am very excited and pleased for the town."
The Range also has stores in Bristol, Newport, Cheltenham and Cardiff.
It was founded by Plymouth entrepreneur Chris Dawson who was ranked 525 on the Sunday Times Rich List last year.