Firms have voted to scrap a Business Improvement District a year early after becoming disillusioned by the regeneration venture.
Colwyn BID launched in 2016 with businesses signed up to fund a levy to raise around £1.3m over five years to pay for projects to regenerate and promote Colwyn Bay, Mochdre, Rhos-on-Sea and Old Colwyn.
But the BID has been dogged by delays and problems and struggled to meet the needs of the four diverse parts of the project area.
At a recent AGM it was decided not to hold a new ballot to continue the BID when the current five year term ends in 2021.
But firms pushed for the scheme to finish a year early - triggering a consultation on whether to terminate in March 2020.
That has now been overwhelmingly backed by the businesses that took part in the consultation.
There were 182 levy payers in favour of an early finish - against five who supported continuing with the BID.
The board has confirmed that Colwyn BID will cease trading on March 31 next year.
The board added that it will continue with "all projects and will endeavour to leave a legacy in the Bay of Colwyn".
It added: "There will be a consultation with Conwy council as to the best winding down procedure and further announcements will be communicated with BID levy payers via updates on the website.
"The board wishes to thank all levy payers who participated in the consultation process."
Chair of the BID board Jen Whitlock, who only took on the role in June, says she believes the project was badly set-up at its inception.
She said: "BIDs are brilliant ideas but the Colwyn BID was covering four separate and diverse areas - because of this it was always doomed to fail."
An example is that three years after an attempt to erect enhanced signage in the commercial district of Mochdre the signs are still not in place.
The scheme is one of four BIDs in North Wales - with projects also running in Bangor, Rhyl and Caernarfon.
