The Thorold Arms Share Launch has gone Live.
On St George’s Day (Saturday 23rd April) at a crowded meeting in the village hall, the share prospectus saw the light of day and about seventy attendees heard about plans to buy the pub from the receivers. After an initial presentation there was an active Q&A session and also plenty of time to look at plans and ideas for the property.
We now have until the end of May to raise enough money to buy the pub. This is a Community Share offer. You buy a bit of the pub, become a member of the co-operative that owns it, and have a vote in how it is run.
Your investment is effectively secured on the asset of the property. If, a year or two down the line, the shareholders realise that the business cannot turn a modest profit, they could vote to close it and sell the assets providing cash to pay back the shareholders.
However let’s look on the bright side. The now closed pub gets bought by us, renovated and reopened. We create a space for the 21st century, accessible by all and a place we want to visit. A shop and café (continental style) for the daytime and pub with good food at night.
We also refurbish the B&B rooms upstairs together with the manager’s accommodation, so we can attract a great management couple.
I could go on but first we have to raise the money…
Please download the Share Offer Document and Application Form or contact us for a printed version. Then read it carefully and consider how much you would like to invest.
Our deadline is 31st May 2016, because after that, if we can’t make a decent offer to the receivers the pub will go to auction and we may lose it for ever.