Confusion after bosses forced to close Ironworks music venue in Oswestry

The venue has been under threat since the start of August and finally closed its doors on Tuesday.

But owners Steve and Roslynn Gore said they hope the closure will be only temporary.

The couple have been told they need to raise £140,000 to pay off debts to the bank or The Ironworks will be sold.

Shropshire Council has designated The Ironworks a building of community value – giving the couple six months to raise the money.

But the bank has now served notice on them that it could send in the receivers to strip the place.

Mr Gore said: "Shropshire Council did designate the Ironworks as a building of community value under the Localism Act 2011, meaning we would have six months to raise the money needed to buy out the bank.

"We withdrew the Ironworks from the planned auction earlier this month – the sale would have been stopped anyway because of the act.

"We advised the bank and they have responded by serving notice on us under the Property Act 1925, which is a quick and easy way for the banks to get hold of mortgaged property."

Mr Gore said the two orders now mean that while the Ironworks cannot be sold for six months, the bank could potentially take out all of the contents and sell them.

"On one hand Shropshire Council puts a moratorium on sale and then on the other hand the bank calls in the receivers even though they can't sell," he said.

"It is conceivable that they could asset strip the building and then we would find our community asset has been irreparably damaged."

A decision was made to temporarily close the venue to give Mr and Mrs Gore time to work through the legislation and try to find a solution with the bank.

Mr Gore has said he will also be seeking further advice on the legal situation.

"From our point of view it's very difficult to deal with because I don't really know about the legal stuff," Mr Gore admitted.

"It was pretty alarming when we had that notification from the bank," he continued.

"We've invested 10 years into this venue and we don't want to see it go, which is why we've fought so hard to maintain it."

A Save The Ironworks campaign was launched by the local community and the venue's users at the start of August and is continuing despite the current closure.

The campaign hopes to create a Community Interest Company, through which the Ironworks would be owned by its users.