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In Full . . .

Loan keeps club in business

Posted on July 02 2012 at 10:52:18

A village social club facing financial crisis has agreed to take a five-year loan from a brewery to remain viable.

More than 100 members attended a special meeting at Alvechurch Sports & Social Club last month to hear the club owed £15,000 in VAT and tax.

Club secretary Allen Morrison told them he had, the previous day, met with Molson Coors – which includes Carling and Worthington’s Creamflow in its brands.

The brewery had agreed to lend the club £15,000, which would be written off over five years in return for the club selling its beers.

“This loan will make the club viable again and we will be able to pay off our debts,” he told the meeting. “But there will be some different times of opening.”

A meeting in July will tell members what changes were planned to prevent the club getting into debt again.

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