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Locals get together to buy pub

Wales Online article:

The Welsh town where the locals came together to a buy a high street pub closed for a decade
The Sportsman in Nefyn has been bought thanks to a community share raising initiative

A high street pub has reopened nearly a decade after closing after being bought by the locals. The once popular Sportsman pub in the coastal town of Nefyn shut back in 2009. But now it has now reopened for business thanks to a community share venture that raised more than £85,000 to purchase the freehold.

With the help of the Wales Co-operative Centre, through its Community Shares Wales initiative, a local group in the seaside town launched a share offer back in May to enable them to raise 50% of the necessary funds to purchase The Sportman. Asking for a minimum purchase of 50 shares, costing £1 each, they attracted in excess of 500 investors.

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