The portrait will go abroad if not enough cash is raised.

Campaigners, who are trying to stop a famous Derbyshire painting being sold abroad, have been given a stay of execution.

Originally they had to raise over �1m by Monday.

Now they have been given another month to reach that amount.

The portrait of the leading 18th century industrialist Sir Richard Arkwright and his family was painted by Joseph Wright when the two men were at the peak of their careers.

Arkwright built the first mills of the industrial revolution in the Derwent valley which is now a world heritage site.

But unless another �3,000 can be raised in the next four weeks, the painting will be sold abroad.

Philip Whitehead MEP, from the Arkwright Society, said: "To see the work of our greatest-ever local painter Joseph Wright combined with the genius of this industrial dynasty just trickling away through our fingers would be heartbreaking."

Local donations and a lottery grant have already raised �8,000 but campaigners hope the extra four weeks granted by the media and heritage minister will make the difference necessary to ensure the painting stays in Derbyshire.