Community raises £350k to save Birmingham hardware shop

  • 📰 bbcemt
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

A shop serving customers for 75 years is to be taken over by residents who have invested in the business.

A community has raised more than £350,000 in six weeks to save a much-loved hardware and garden shop.A community share offer inviting local residents to invest in the business and form a co-operative had been fully subscribed, organisers said.Matching funds from the government had enabled the group to move quickly to begin the purchase of the shop, it added.The store's current owner Jon Jaffa, who has had the shop for 35 years, gave campaigners first refusal and time to raise money.

The campaign had received the backing of West Midlands mayor Andy Street, who said its success was "wonderful".

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 120. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines