Pub saved by community spirit set to reopen

In Britain, a village pub that was the subject of a "save our local" campaign publicised by Guardian Money reopens its doors to drinkers and diners next Saturday. It's been all hands to the pump in Crosby Ravensworth, Cumbria, in readiness for the reopening of the Butcher's Arms after local people succeeded in raising the money to buy and refurbish it . Our original article, in May, told how villagers had set up a community co-operative and were offering people the chance to become a co-owner of the pub in return for a minimum investment of £250. That led to a surge in the number of people signing up. The total number of co-owners has now reached almost 300, which means the campaigners have been able to raise the £300,000 needed to buy the pub, cover their costs and refurbish the building. Cameron Smith, treasurer of the co-operative, says: "We have been overwhelmed by the interest in the project. We have shareholders coming from all corners of the UK and even have a waiting list of potential investors for future share allocations. Around half of our members are local, but we have had investors from as far afield as Alaska, America and Australia." The pub has been closed for almost 12 months, but in recent weeks has felt the benefit of community co-operation, with volunteers carrying out gardening, plumbing, building, decorating, electrical and carpentry work. The building has been rewired, the beer garden overhauled and a full commercial kitchen has been created. The installation of new log burners and an impressive oak bar completed the transformation. Visit lyvennetcommunitypub.com for further information. The share offer is fully subscribed but the co-operative's directors will add names of interested individuals to a waiting list. If you want more details about member-owned enterprises contact the Co-operative Enterprise Hub at co-operative.coop/enterprisehub