Lexington Local Food Co-operative Pleads for Owners’ Support to solve Cash Crunch
A Long-standing Lexington Community Cornerstone facing Financial Predicament
In a bleak and distressful announcement, Good Foods Co-op, a neighborhood grocery cooperative based in Lexington, Kentucky, conveyed an urgent request for financial support from its local owners. This stalwart community member since 1972 is now grappling with a severe cash shortage which threatens its survival. Despite having endured and overcome similar problems over the last two years, their current predicament seems rather precarious.
A Symbiotic Relationship Between a Store and its Community
Steve Kay, the recently elected president of Good Foods Co-op’s board, described a co-op as a “grocery store owned by the customers who shop there”. “We have over 10,000 owners. They are the ones that benefit. We specialize in organic, local foods and support for local farmers”, Kay elaborated. He affirmed that the financial crunch is born out of increased competition, the cost of legal fees associated with employee unionization, and existing maintenance costs.
The co-op is the acclaim of over 250 Kentucky farmers who grace their aisles with fresh and locally-grown produce. “Anything that we can find that a local farmer is producing, we want to support that and we know that it’s good for the local economy”, voiced Kay regarding Co-op penchant for local goods.
The Plight for Survival and Way Forward
Good Foods Co-op’s survival story is not a new one. In the face of past infrastructure expansions and renovation costs, the co-op had stood at a similar precipice. Back then, the store was saved by the generous contributions of its owners. Once again, it seeks similar support and is hopeful of a favorable response.
Among the 10,000 owners who are privy to a 10% discount on the store’s offerings, Charles Thompson and his wife, Milli Fazey, echo the sentiments of each co-op member. Living within five minutes of the store and shopping there around the clock, they truly appreciate the co-op’s community spirit. “It’s not just an ordinary grocery store, it’s a community really”, Thompson mused.
A Plea to the National Co-op Grocers
Besides extending its humble plea to its owners, Good Foods Co-op is also considering an application for loan assistance from National Co-op Grocers, an organization dedicated to boosting the growth and success of cooperative grocery stores. If the local community responds positively to this plea and the National Co-op Grocers approve the loan, Good Foods Co-op will continue to serve Lexingtonites as it has for the past decades.
