Chorlton Central Church

Busy Bee Toyshop re-opened on 11th June as a Co-operative - possibly the first Co-operative Toyshop in the UK.

Chorlton Central Church is one of the investors, in line with our committment to fair trade, and the Revd Sarah Brewerton joined other Co-op members and customers in promoting the venture on its opening day.

When the previous owner decided to retire from running Busy Bee Toyshop after 25 years, there was a real question about its future. In uncertain economic times would anyone be willing to take on an independent toyshop? It didn't take long for the answer - a group of local residents quickly came forward, suggesting the community could buy and run the business. Things happened quickly after that. Around 20 people attended an initial meeting, and subsequent meetings established that there was an appetite for the venture.

The group decided that the co-operative ought to be owned and controlled by the community and so registered as a Community Co-operative. It very quickly issued shares, setting a target of raising 30,000 pounds in just over a month, which would enable the co-operative to buy the name and stock of Busy Bee, take on the lease for the premises, and secure further loans.

Within five weeks the co-operative raised 32,250 pounds from 103 investors, including the Church, meaning that the community buy-out could go ahead. The members invested anywhere between 250 pounds and 2,000 pounds. Each member has one vote regardless of the level of money they put in, and after the first two years member investors will receive a return on their investment.

Read the BBC News article here

new page 11 July 2009