Takeover hits a delay

Last updated : 24 May 2011 By Stuart Gillespie

It has all been quiet on the 10000Hours front in recent weeks as director Richard Atkinson and the rest of the potential owners work on their plans. Meetings have been held and they have gradually begun releasing details of corporate and community members.

However, things seem to have stalled as current chairman Stewart Gilmour revealed tonight that Mr Atkinson and fellow board member Chris Stewart have asked for a bit more time to obtain the necessary funding.

Mr Gilmour said: "They've asked for another two or three weeks to put their package together. They have some grant applications in and that is taking a bit more time."

The CIC is looking for £2million in grants and loans to purchase the sale, which will then be paid off by individual, corporate and community memberships. However, they need that money first - and their attempts to get that money appear to have hit a wee snag.

Potential individual members were due to be sent out direct debit forms yesterday, but this didn't happen. That was blamed on problems with the high winds battering Scotland, but today's news makes me wonder if there isn't something more to it than that...

Story source: BBC Scotland

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