We’ve reached our £100k fundraising target!

Earlier this month we reached another milestone, raising £100,000 working capital since we bought the pub. Pictured at our updated target board is Stewart, who has faithfully maintained the board since we started our campaign over 2 years ago.

When we launched our share offer in 2013, our target was to raise £350,000 to buy, refurbish and reopen the pub. Initially we barely raised enough money to buy the pub and when we got the keys in February 2014 we had no working capital at all. So we had to adjust our plans and build the business gradually, initially operating with volunteers and serving drinks only, and putting off our major refurbishment until early this year.

Over the past 18 months we’ve successfully raised our new £100,000 target needed to achieve our objectives, from a variety of sources, including trading profits (boosted by our fantastic volunteers who have generously given their time and effort), new share subscriptions, grants and donations.

Although we’ve reached this target, we still welcome new share subscriptions. Most of this money has already been ploughed back into the business and further improvements and repairs to the building will be required in future. Just as importantly, we want to encourage as many people as possible to become involved in the ownership and running of the pub – the more members we have, the more of a community pub we become!