In order to purchase the Red Lion pub the Campaign needs to establish a company which would own the property. On 14 September the Steering Group agreed to establish a limited company. The company, because it wants to be rooted in & representative of the community’s interests whilst being a commercial entity, will also be effectively a co-operative operating for the benefit of the community. The company will be registered under the Industrial & Provident Societies Act 1965.
At the Steering Group meeting on 5 October the Steering Group agreed the Rules for the company which are based on Model Rules promoted by the Campaign’s adviser the Plunkett Foundation. These Rules now have to be approved by the body that regulates Industrial & Provident Societies, the Financial Conduct Authority.
It is anticipated that the FCA will take up to 4 weeks to agree to register the company at which point it can start trading. The full details & the name of the company will be announced once the FCA has registered it. It would be this company that would the organisation which could potentially become the next owner of the Red Lion.
The establishment of the company will be yet another significant milestone in the Campaign’s attempts to purchase the pub.
If you think that you might be interested in investing in the future Red Lion business please complete & return the share interest form. It can be returned to any of the addresses on the form or to the Campaign email firstname.lastname@example.org.
The share interest form is available at -
or click the link on the right hand side of this blog’s home page.
Save The Red Lion Campaign Patrons
- Sidbury Community Enterprises' community share offer launched to buy the Red Lion
- Save The Red Lion Campaign Patrons - Rt Hon Hugo Swire MP & The Reverend Susie Williams
- Campaign's company - Sidbury Community Enterprises - has made an offer to buy the Red Lion
- East Devon District Council has listed the Red Lion pub as an Asset of Community Value - a significant Campaign milestone