The Hilltop Bar in Yell will close at the end of the month after a public meeting failed to generate enough interest.
Owners of the pub had organised the event in the hope that someone might come forward with new ideas for the struggling venture.
However, the community shop which sits in the same building could be expanded once the pub has served its last customer.
Joint-owner Steven Swan, who runs the pub with his sister Sharn, said only a handful of people turned up at the meeting.
“There was a very poor turn-out, with only 13 people turning up,” he said.
“There wasn’t even a single community councillor there, although Alec Priest, the ward councillor, turned up. But there just wasn’t enough people to get any kind of dialogue going.
“The pub will close its doors at the end of the month.
“To be honest we didn’t expect a shining knight on a white horse to turn up. We’re more disappointed for the community than ourselves. We can just move on and do other things. But the community has lost an asset.”
He stressed the community shop was still trading normally, and added support had come forward at the meeting for the shop to be extended into the pub area.
“We have spoken to a few companies regarding bill payments, phone top-ups and the post office. We just have to wait and see how it all pans out.”