29 Aug Cookley Post Office Update
Following a meeting between Katrina, Yolande and 2 representatives from the local and regional Post Office and a review of the gap in the finances needed by CCAG to buy the business, the decision was reached that the Group cannot proceed. The main reason for the decision being the timescale.
1. Total pledges £60,000. The amount needed to buy the business, pay fees and provide some working capital £325,000. Funding the gap by commercial loans and/or mortgage would not make for a sustainable business and there was not sufficient time or personnel available to make grant applications.
2. A committed bid needed to be made during the first week of August in order to meet the deadline of taking over when the current Post Office and Shop closes at the end of November. Due to the lack of funds, this bid could not be made.
The Post Office representatives advised Katrina and Yolande that they are committed to providing a Post Office service in Cookley. At this point in time, we do not know where this will be but they have told us that there will be a consultation, so we must wait for further information. CCAG would like to thank everyone for their support over the past couple of months. If we had realised earlier that the business was on the market, we may have had a chance, who knows? The support from the Community and the way that everyone came together was great! As we know, there are other challenges facing the villages now and in the future. It is good to know that we can all work together when it counts.