Pub takeover bid lands £100,000 investment - but still needs funding

The Blue Room has been closed since 2015
The Blue Room has been closed since 2015
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The take-over bid for the Blue Room in Blackpool town centre has hit the halfway stage – and the group behind have secured a £100,000 loan and grant.

But 139 Church Street Community Pub Limited said it still needs the public to invest in the pub, the birthplace of Blackpool FC, so it can reopen.

It is offering shares until Tuesday, April 11, and is hoping to raise £250,000. Some £14,000 had been pledged online at the time of going to print.

A spokesman said the £100,000 combined loan and grant came from Plunkett’s ‘More than a Pub’ scheme’.

He said: “Obviously this reduces the amount we need from other investors, and pushes us a lot closer to our total target, but we still need that investment and buy-in to get us over the line.

“We hope this gives some of you, who have been debating whether to get involved, the confidence you need to jump in.

“We’re edging towards the point where we can buy the bricks and mortar.”

Further investment will be needed for repairs and refurbishments, he added.

Members would be eligible for election onto the board, which features Gareth Wright, Rob Hill, Graham Moore, Iain Brownbridge, and David Moore, and would be given their money back should the bid to buy the pub fall through.

The popular venue has been closed since 2015 and is listed as an Asset of Community Value. Visit www.crowdfunder.co.uk/the-blue-room-community-pub-ltd for more information.