Deal Highlight
Island Employee Cooperative (IEC)
In March 2013, after 40 years in business, the owners of Burnt Cove Market, V&S Variety, and The Galley, all based on Deer Isle, decided to sell the stores and keep them locally-owned. When a viable buyer didn’t materialize, the owners, with their employees, got creative, looking to CEI and Cooperative Fund of New England, both Community Development Finance Institutions (CDFIs), to finance the innovative idea of a worker-owned cooperative for all three businesses.
Photo courtesy of Cooperative Fund of New England
Read More »
|