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Along with our loyal and growing membership, the KCG Board is coming to terms with the latest development in our search for a store location: the decision not to pursue a lease at 600 S. Broad Street in Kennett Square. We remain fully committed to bringing a community-owned grocery store to Kennett Square, one that will thrive for the long term, and are already working on our next steps. Here is a recap of where we are.
Update: On October 17th, we notified Member-Owners of the decision not to pursue a lease of this Borough property. As we said then, after four months of thorough negotiations and financial analysis, the KCG Board of Directors and the Kennett Square Borough Council made the mutual, tough decision to end the lease discussions. Much like in a home-buying process, even after an offer is accepted, deeper due diligence can reveal challenges or costs that make it unfeasible to move forward. This was the case here. While we were initially excited about the promise of this location, ultimately the financial risks and renovation costs associated with the lease were too significant for the co-op to responsibly take on.
Thank you: We are grateful for the support of the Membership and the hard work of Board members to develop the plans and then study the details to make the best decision for the organization moving forward. Thank you for your continued trust and enthusiasm as we work together to bring a community-owned grocery store to the Kennett Square area.
What’s Next: Member-Ownerss are invited you to join us for our Annual Meeting on December 9th (held virtually), where we will discuss lessons learned from the lease negotiations and share the Board’s plan for the future of KCG. A formal invitation will be sent soon, but in the meantime, please submit any questions or comments using this link so we can address them during the meeting. We move into the coming year stronger than ever and, with your help and support, will make our grocery store dreams a reality.
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