Update on our sale negotiations

As the 14 January 2014 deadline for the Asset of Community Value moratorium approaches, we would like to update you on the current situation with our plans to purchase The Case.

We are still in negotiation with Punch Taverns’ agent Everard Cole to secure the freehold of The Case for the community; however, it appears a third party, whose intentions for the premises are unknown, has entered the bidding and we are being forced into out-bidding this third party to secure the purchase.

As a committee we are actively investigating our options should another party acquire The Case and seek to change its use; and assure you we are continuing to work hard to secure the Case as a pub.

Our latest offer, to which we are awaiting a response, is at the limit of what we can afford, based on our share funds available and the constraints of our business plan. Unless new funds become available to us at this stage (and we continue to accept share subscriptions by cheque even though the Microgenius route is now closed), this will be our final offer.

We have written direct to the Executive Chairman of Punch Taverns, Stephen Billingham, appealing for Punch to do the right thing and accept our offer, thus ensuring the future of The Case as a pub.

We will contact you again as soon as we have more news, and in the meantime would be pleased to hear from you if you have any comments about this update.