Residents pull out of running to buy pub near Wem
A company set up by residents to save their village pub from permanent closure has pulled out of the race to purchase it.
The group has confirmed it has withdrawn from negotiations to purchase the Railway Inn in Yorton, near Wem.
It had submitted bids to buy the pub, which has gone on the market for £300,000.
The Railway Inn Steering Group had already raised £85,000 in three weeks from locals in share pledges.
But in a letter it said: "It is with great sadness after months of toil and effort, we have to report that the steering group has withdrawn from negotiations."
The group said it had offers of £225,000 and £240,000 rejected for the pub.
The letter said: "Whilst we could, clearly, have continued to increase our offers, despite the lack of any other bidder, we believe it would have been irresponsible to do so bearing in mind the additional monies required for refurbishment, contingency and working capital.
"As a consequence, we have informed the agent that we can go no further and will disband the steering group accordingly.
"We are sorry that we have failed in our endeavour to secure the pub for future generations on behalf of the community and would like to thank your for your patience, support and generosity throughout this period."
The future of the pub was put under threat because the Page family that own it are selling up after more than 80 years. It sparked residents in Yorton to launch a campaign and The Railway Inn (Yorton) Community Venture Limited to be formally set up.
"We wish the Page family well with their endeavours to find a suitable purchaser for the Railway Inn, who we hope will cherish it just as much as the steering group intended," the letter added.
