The Craufurd Arms launches fresh campaign for community shareholders

A treasured community-owned pub has launched a new campaign offering people the chance to buy a stake in the venue and secure its future.

Pub lovers banded together in 2017 to purchase The Craufurd Arms and stave off the prospect of the watering hole disappearing from the community.

Nearly a decade on, a new community share offer is now running to raise funds to help the venue protect its financial future and pay down debts.

Like many hospitality businesses, The Craufurd Arms is still saddled with legacy debts from bounce back loans taken out during the coronavirus pandemic as well as costs from the original purchase of the pub.

The venue is now appealing to shareholders to consider buying more shares and calling for new investors to join the community-run pub.

Mark Newcombe, community engagement officer for the Craufurd Arms Society Limited, said: “There are so many things that have happened over the last few years that have really impacted not only our pub but pubs all over the country.

“During COVID we had to take out a bounce back loan to make it through but repaying them now is putting a huge stress on cash flow.

“The idea of this share offer is to encourage our supporters and shareholders to buy some more shares.”

The hospitality industry has had to grapple with rising energy prices triggered by global conflict, increases to employers’ National Insurance costs and ongoing loan repayments from the damaging coronavirus era.

It is hoped the community share offer will provide a cash injection that can provide a financial buffer for unexpected events and money to refresh parts of the pub.

Craufurd Arms Society Limited, the community organisation that owns the pub, has set a minimum target of raising £10,000.

If the venue can raise £15,000 to £25,000 then it could be eligible for match funding from the Community Shares Booster Fund, run by Co-Operatives UK.

The minimum purchase for new investors is five shares at a total cost of £250.

Existing shareholders can increase their shareholding in one share increments at a cost of £50 per share.

Mark, who also serves as the chairman of the Slough, Windsor and Maidenhead branch of the Campaign for Real Ale, said: “To get that money into our bank account will make a hell of a difference because then we can pay back some of these loans and the interest and all the rest of it and be more comfortable going forward that it’s going to be survivable.”

He added: “It (The Craufurd Arms is the centre of the community. Pubs are and that’s the function they fulfil.

“Without them, there’s very few places left. That’s the problem.

“Once they do disappear, they never come back again.”

The deadline for signing up to the community share offer is Saturday, March 14.

Visit craufurdarms.com for more details.