Brit group now official society

THE community group hoping to buy The Britannia Inn and reopen it as a pub and community hub has been officially registered as a Community Benefit Society.

Registration of the East Wells Community Benefit Society (CBS) as a new society under the Co-operative and Community Benefit Societies Act 2014 was confirmed in a letter from the Financial Conduct Authority, which regulates financial services in the UK. The East Wells CBS has now opened a bank account with the Co-operative Bank, which means that it will soon be able to accept donations and move on to preparing the share offer. Other sources of funding are also being explored.

If enough money can be raised, it hopes to buy The Brit – for sale with an asking price of £350,000 – and make it a focal point for community activities as well as a pub.