Queen of the South (QOTS) pub, facing closure after the unexpected sale of its freehold, has reached an agreement to stay open. The pub will purchase the freehold outright and clear all debts, thanks to community support. However, they need to raise £500,000 to complete this deal. An Investor Dinner is scheduled, offering shares of freehold equity and venue profits as incentives for potential investors. The pub is a well-known cultural hub, having been operational for two years.
Clement Ogbonnaya announced on social media that an agreement has been reached to keep Queen of the South pub open, driven by public pressure and community support.
Under the deal, QOTS will purchase the freehold outright from Young's, acquire Young's 50% stake in the lease-holding company, and clear outstanding loans.
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