The 250-year-old Church of England School has been in special measures for the past two years, having been the subject of seven damning Ofsted inspections.
Following the latest critical report, published last month, governors began consulting on a proposal to close the school at the end of the summer term, after concluding that the only other option, academisation, was not viable.
Since then however, the Whitfield School Working Group, chaired by John Blackett-Ord, has convinced governors that the school could have a viable future.
Speaking after Tuesday’s meeting, Mr Blackett-Ord said: “The governors don’t really want to close the school.
“They want it to stay open, just like everyone else in this community.
“The support has been marvellous. We are all horrified at the thought of losing our school.”
Mr Blackett-Ord said a sponsor is now being sought with a view to the school becoming an academy, while a school improvement board is to be set up.
This follows on from the recent appointment of a new headmistress, and the recruitment of educational consultants to audit the school.
Mr Blackett-Ord is owner of the Whitfield Estate, which in turn owns the school building.
His ancestor William Ord established the school more than 250 years ago.
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