SADLY in recent years we have seen some of Kempsey’s oldest businesses close including Barsby’s department store (106 years) and Harvey's Furniture (133 years). Now Macleay Regional Co-operative Limited could be winding up after 112 years.
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Recently, members would have received a letter in the mail from the Co-op asking them to participate in a postal ballot to vote if the Macleay Regional Co-operative Limited should wind up or not.
The letter:
The winding up of Macleay Regional Co-operative Limited would mean members and the community would lose the benefits of the member loyalty program as well as the future of the locally owned Central IGA supermarket will become uncertain because they lease the building from the Co-op.
Flashback: Tough times left Co-op at a crossroads
At the moment the board of directors is proposing voluntary liquidation before the financial situation becomes worse and it will have no choice but to liquidate. Unfortunately the information sent with the letter to members does not have any details of any action taken (if any) by the board to try and improve the current financial situation of the Co-op, and without a meeting the members won’t have the opportunity to ask the board of directors questions before they vote.
If the members vote to not wind up the Co-op I think some new faces with fresh ideas on the board of directors would be a start but in saying that I’m not saying the current board and staff haven’t done their best to keep the Co-op operating.
I urge all members/shareholders to vote against the winding up of the Co-op and give it a chance to recover and expand into the future.
- Chris Richardson
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There are other co-ops around the country that have tried different things to survive with support from the community. One of these is Hastings Co-op who employs more than 300 people in 16 businesses based in Wauchope, Port Macquarie, Laurieton and Comboyne which include three department stores, IGA supermarkets, liquor stores, service stations, rural store, hardware and café.
It’s not too late to save Our Co-op with help of the members and support from the community.
I urge all members/shareholders to vote against the winding up of the Co-op and give it a chance to recover and expand into the future. Don’t forget that votes must be received by the returning officer by noon Thursday, December 20.
While the IGA Supermarket is there, the Co-op Fitness Centre still operates, the member loyalty program is still running and the Co-op owned building next to the IGA supermarket building has potential – there is no reason why the Macleay Regional Co-operative Limited can’t survive into the future with some changes and new business ventures.
Chris Richardson, West Kempsey
NOTE: The vote by members is for the Co-op only, and it has no direct bearing on other entities like the IGA for example which is a separate business.