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The Issue

The Guildford Store has closed, and locals want it re-opened and thriving. Community meetings have led to the formation of an interim committee aimed at achieving this goal. The committee is conducting groundwork to establish a cooperative to purchase and run the Guildford Store. 

A Way Forward

The interim committee are now gauging community interest regarding investing in the Guildford Store. The proposed distributing co-operative structure enables the needed funds to be raised through issuing shares.

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The capital raised through issue of shares will cover:

  • The acquisition of the building at "market value."

  • Any immediate repairs to the building as required. 

  • Cleaning and refreshing the interior of the building. 

  • Replacing or repairing equipment in the shop as required.

  • Restocking the inventory for trading. 

  • Covering the cost of permits, insurance, and licenses.

  • Working capital.

 

If you are interested in being part of the Guildford Co-op's initiative to purchase and

run the Guildford Store please complete the EXPRESSIONS OF INTEREST form.

CLICK HERE TO BE TAKEN TO THE FORM PAGE.

More Information

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The proposed "GUILDFORD COOPERATIVE" will be a legally formed and registered distributing cooperative. It will meet all legislative and governance requirements. Members will vote for and appoint a board who will oversee managment of the General Store on behalf of the Cooperative members. All members are eligible to serve on the board.

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  • All shares are redeemable with-in co-operative rules.

  • Proposed minimum member share is $5000

  • Each member has one vote, no matter how many shares they own.

  • It is proposed that part shares can be bought by like-minded individuals to make up a full share + 1 vote.

  • Copies of Co-op rules and disclosure statement will be available when the shares are on offer

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If sufficient interest is shown through this share purchase expressions of interest, the next steps are:

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  • Negotiate with vendor to purchase, at market value, the General Store freehold. This will be non-binding until funds are raised.

  • Formation of the Guildford Co-operative.

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Residents of the districts are particularly encouraged to take an active part in the re-establishment of the local store by becoming members and purchasing shares. The committee is also open to others beyond the district who care about our store becoming members and purchasing shares. 

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Cooperative Principles

  • Voluntary and open membership

  • Democratic member control

  • Member economic participation

  • Autonomy and independence

  • Concern for community

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