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HomeNewsCardigan Arms event: Crowdfunding appeal will launch Friday

Cardigan Arms event: Crowdfunding appeal will launch Friday

A crowdfunding appeal to help take the Cardigan Arms pub into community ownership will be launched at a special event on Friday.

Members of the Cardigan Arms co-operative are aiming to buy the building and keep it as a community pub.

Greene King put the pub on the market for £295,000 in December 2016 and because it is listed as a community asset, campaigners have until June 2017 to raise the capital.

They have agreed a partnership with Leeds-based community pub operator Mood Developments Ltd where Mood and the Co-op both raise £300,000 to buy and refurbish of the pub, which dates back to 1896.

One of the campaigners, Chris Hill, said:

“The campaign starts this Friday at the Cardy when the Crowdfunder site goes live amidst the drink, food and music.”

A group photo will be taken outside the pub at 7.30pm. There will also be entertainment, activities and information about the campaign from 7pm.

People are encouraged to invest at least £100 for the community share issue.

More details about the event are available here.

Campaigners are also looking for up to 40 people to invest between £5,000 and £10,000 to become a ‘Cardigan Angel’, on which they can earn a 4% return.

A dozen Cardigan Angels have already signed up prior to the launch.

For more details or to express an interest in the Cardigan Angels, e-mail chris.hill@cardiganarms.coop.

Catch up with the story of the Cardigan Arms community buy-out bid here.

   

   
   
   
   

   

   

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