Financial support from The Co-op Foundation

We are very pleased to announce that we are recipients of an interest free loan of £20,000 from The Co-op Foundation.

While this might seem like an uncertain time to be borrowing money, we find that we have weathered the pandemic storm reasonably well and want to take the opportunity of working with this co-operative lender. We will be using the funds to allow us to honour loanstock that matures this year (2021) and to spread the cost over the next five years. Some of the funds will also go to helping to re-open the community space, so that hirers are safe and we meet all the guidelines around re-opening.

‘It has been really great to work with the Co-op Foundation over the last year’ says Clare who has worked on the financial analysis and risk assessment for the application. ‘It is a shame that this has mostly been remotely, but we hope we can welcome Co-op Foundation representatives in the future’

The October Books finance working group, made up of employees and volunteers, have needed to develop budgets and projections for the application. This has really helped us to focus on making our finance processes simpler and more accessible. In a community business it’s important that all employees have some understanding of the finances and in applying for the loan we have made the space to have some of these conversations. We are really grateful to the volunteers who have been involved in this process who have put in many hours helping to organise and review our finances.

The next couple of years do seem uncertain in terms of what will happen to our high streets and retail in particular, but bookshops do seem to be bucking the trend.  We are confident that our mix of products, including our food range, and the extras that we offer over traditional retail premises, like the community space, will keep us viable over the coming months and years. We also pride ourselves in our customer service and personal touch, which is needed now more than ever, making all customers feel welcome. The loan from the Co-op Foundation will allow us to continue to provide all this, as well as honour the support and funding from our local investors.

If you are interested in being part of the strategic decision making at October Books then you can do so by becoming a Member. You can find more details of membership on our web page here and our next Members meeting is on the Tuesday 27th April. Please contact Clare[at]octoberbooks[dot]org if you are interested in attending but are not yet a member. If you are interested in volunteering with October Books please write to jonny[at]octoberbooks[dot]org and he will send you an application form.

We’ll be closed this Monday 3rd May for the May Day Bank Holiday! 

Then we’ll be back to our our normal open hours of:

Monday - Saturday

10am - 4pm

We are back open six days a week, with the whole store open for browsing. We will still of course be taking customer orders and you will still be able to buy food and cleaning products online through our online store. 

We are able to be open 6 days a week again because of your consideration and care whilst in the shop. Keep doing what you’re doing and leave that extra space, sanitise those hands and pull on that mask. We know you’re smiling underneath it :) 

You will see we have a QR code at the door, if you have the NHS COVID-19 app downloaded to your smart phone please scan this as you enter the shop.