There have been a number of expressions of interest in running the festival
The Arts Council of Wales is co-ordinating plans to rescue Brecon jazz festival, it has emerged.
The organisation responsible for funding and developing the arts is overseeing four bids to save the popular event.
The company behind the festival ceased trading last month after suffering a "substantial loss".
Other interested parties keen to stage the jazz event have until midday on 19 January to submit an application.
Following talks with the Welsh Assembly Government and organisations that fund the festival, the arts council decided to oversee the bidding process.
The arts council is keen to see the event take place in 2009, and it has received a number of expressions of interest.
It will be liaising with other funding partners, especially Powys council, before selecting the most suitable bid.
Four different parties are shown an interest in running Brecon jazz.
Among them are two businessmen, Ben Jones, of the Celtic Spirit Group, and corporate events organiser John Ellson.
Other bids have been made by Brecon's Theatr Brycheiniog, Porthcawl Jazz Festival and the Hay Festival.
The jazz festival, held every August, celebrated its 25th anniversary in 2008.
In the past it attracted performers including George Melly, Humphrey Lyttelton, Jools Holland and Amy Winehouse.
But it ran into financial difficulties after poor weather hit ticket sales.
An insolvency expert has been appointed, with a creditors' meeting planned on Friday in Cardiff.
The Brecon Jazz Festival company has ceased trading and is being wound up.