Early retirement no holiday for investor

After a 32-year career in retail, Karl Crane (right) was looking forward to the early retirement he had promised himself.

Friday, 27th May 2016, 08:35 am
Refurbishment at the Black Bull in Lowick.

“That only lasted a month or so before I got involved in Lowick Community Ventures,” he said.

He stepped in to save the Black Bull when it became clear the community share issue was not going to raise the required funds in time.

He explained: “I set up the company and raised the capital for the freehold with the idea of leasing it back to the community group but it later became clear they would not be able to raise the money in time.

“Bills still had to be paid so I basically offered the group free rent but it folded when it could not raise the capital.

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“I went back to my company and we decided that we’d gone this far that we might as well carry on.

“We raised the capital and will run the company but it’s still very much a community project. We really want the village and surrounding area to help make it a success.”