Local regulars and the world of music is rallying to save the Bell Inn pub in Bath.
Raising community shares to fund the buyout, the aim is to continue to run it as a much loved pub, now on a co-operative basis.
We have been advising them on how to put together the share issue. So far the team has the support of Robert Plant, Michael Eavis, Peter Gabriel, Will Gregory (Goldfrapp), Portishead, The Stranglers, Baka Beyond, The Wurzels, Midge Ure, Clare Teal, Eddie Martin, The Vaccines, Radio Banska, Gabrielle Aplin, The Darkness and more.
There is a piece in the Financial Times today on the rise of community shares with some of the work we have been doing with Locality and the Department for Communities and Local Government. It quotes me saying that you have to be prepared for the downside risk of losing money if you do invest – the old co-operative principle of responsibility – so there has to be a proper business that can be sustained, with all the loyalty consumer co-ops bring. The upsides are that you become a member of something you can love.
The share offer is open only until Wednesday – the share prospectus is here
This image, which says it all, is from http://www.perryharris.com/