Regeneration bosses insist bidding for Portas Pilot status was not a waste of time, after Hyndburn’s two entries both lost out in the second round of bidding.

Both Accrington and Oswaldtwistle were overlooked for a share of £1.5 million of government money to regenerate high streets.

Fifteen towns and cities up and down the country were in the latest tranche of Portas Pilots, taking the total to 27 under the scheme so far.

Hyndburn council’s deputy leader Clare Pritchard said the council would be taking stock of the decision, and hoping there might be further rounds in the future.

She said: "Obviously we are disappointed but we will be going away and re-evaluating.

"We remain absolutely dedicated to our town centres and are taking steps at looking to maintain the town team aspects of it.

"This is not the end."

The focus of Accrington’s bid highlighted the town’s green credentials, while Oswaldtwistle’s bid targeted attracting more ‘front end’ businesses.

The 15 new pilot areas are: Ashford, Berwick, Braintree, Brighton, Hatfield, Royal Leamington Spa, Liverpool, the Waterloo area of central London, Forest Hill in south London, Tower Hamlets, Loughborough, Lowestoft, Morecambe, Rotherham and Tiverton.