A Maldon High Street shop could be transformed under plans to develop part of the site, allowing it to provide space for independent stallholders.
The Emporium was originally set to close over the summer, after trading in the town for three decades.
However, when a deal with Specsavers to buy the property fell through at the last minute, owners Mary and Graham Powell “went back to the drawing board” on their retirement plans.
Attempts to find a suitable buyer to take on the whole property have been unsuccessful.
Meanwhile, the popular shop has continued its clearance sale.
The couple have now revealed 'Retirement Plan C', which will see part of the site sold off to a developer to fund a full redesign of the Emporium.
Graham said: “Given the current well-known difficulties affecting our national high streets, it looks unlikely we’ll find a single tenant for the Emporium.
“Our latest plan, therefore, is to raise funds to refurbish and redesign the store by developing land at the rear of our property.
“At a time when people need savings the most, we’re offering them. And we’re actually quite enjoying what we do.
“While it wasn’t our original plan, we’re really pleased it’s working out.”
The development of the outdoor garden centre will fund a transformation of the main Emporium building, to provide space for individual stallholders.
Mary and Graham say greengrocer Dan Segui, who runs a stall in the garden centre, will get “first choice” of a new indoor spot.
Mary added: “The development will allow the Emporium to continue trading. Ideally, we’ll have space to continue selling clearance lines, alongside other independent traders.
“We’re seeing a lot of new faces - I think word’s got round. The feedback from customers has been absolutely amazing.
“There’s a real appetite for us to stay, in some shape or form. There’s a familiarity and comfort about this place.
“In a changing and uncertain world, the Emporium is something solid. People want something real, unlike online shopping.”
A planning application is set to be submitted to Maldon District Council within the next month.
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