Congratulations to the newest cooperatively-run enterprise on the block! York Supplies was successful in its share offer, raising £250,000 from the local community to buy this much-loved local business from its retiring owners.
As you may know there are different types of coops. Loaf is a worker coop, meaning it is owned by the people who work here. York Supplies will be a community coop where anyone who wants to support its existence can become a member by buying a share in the business, and earning a dividend should it make a profit. While the workers there can of course also become members, they will be employed by the community coop, where each share is equal to one vote, regardless of how much was invested.
It’s exciting to see so many different models of ownership across our often-troubled high streets. One size rarely fits, after all.