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When
HDT heard that the owners of The Natural Food Store were wishing to retire and
had no one to take over the store, we realised we had to do something to help.
The store plays a pivotal part in the community and so a community buy out was
initiated by HDT.
Under the
leadership of Headingley Development Trust, a new co-operative – an Industrial
and Provident Society- was set up to buy the shop and run the business. Members
were invited to join and invest, and four founder directors led the buy-out,
which went through on 23rd October. On November 10th over 200 proud new owners
celebrated the buy-out on 23 North Lane. Each investing a minimum of £100 each –
some considerably more – members of the new co-operative raised over £100,000 to
buy and capitalise the business.
The store is now a separate
organisation to HDT and has its own Board with representative Board Members from
HDT. We were glad to have been part of the process and the success.
For more
information on the buy-out please click
here, or for more
information on the store visit their website on
www.naturalfoodstore.coop |
