Parents of pupils at Exeter's St Margaret's School - which is due to close later this year - are considering launching a rescue bid to save it.
The governing body say the school is no longer viable because of low projected pupil numbers for next year.
But parents have formed an action group to look at the possibility of funding St Margarets for a further 12 months, or even buying it.
But they're aware that this may not be practically possible.... or acceptable to the owners of the site, if they want to sell it for redevelopment.
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