Villagers fighting to save the Fox at Loxley pub are positive that a community effort to buy and run the premises will be successful, with £191,000 pledged to make that happen so far.
The Fox at Loxley Action Group has been busy gaining support, but the pressure is really on now after the pub was placed on the open market by its owners EI Group.
The listing of the property had been on hold until the end of August, because as it is registered as a community asset by the parish council, a moratorium of sale was put in place.
This is designed to allow the community to consider making an offer for it and to raise the cash.
However as that moratorium has now expired, an outside buyer could now potentially swoop in.
Paul Jennings, chair of the Fox at Loxley Action Group, said: “We have extended our share offer, we’ve had £191,000 pledged, but we’re looking at needing around the £250,000 mark. The pub is now on the open market, which does make it harder, but I’m still very positive that we will be successful, it just puts a bit more added pressure on to get the money together. Realistically I think EI Group would always have waited until after the Moratorium ended to see if there was further interest.
“If we can make it to £200,000, we’ll be able to make a bid and I hope that we might be in that position by the end of the month.
“We’ve had so much support, it’s not just locals who have pledged to help, we’ve had people from as far away as Germany and the United States.”
The group is being supported by Loxley Parish Council who have funded a survey of the pub, while they have also sought help from those running the New Inn at Norton Lindsey, who successfully purchased the business in 2016 to run as a community venue.
It has been argued that if the pub closes there could be a negative impact on house prices locally.
If you are interested in buying shares and helping to save the Fox, or for more information email email@example.com
You can also visit the group’s Facebook page by searching Fox at Loxley Action Group.