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CO-OP STORE IS CLOSING!!!

Update

Thanks for your patience! The Staff and Board have been hard at work figuring out what’s next for our Co-op.

First of all, we’re moving out of 1500 Burns. Regardless of the outcome of the upcoming vote, we are aiming to vacate the premises by December 1st. This means that we need to sell all existing food, sell or get rid of equipment and furniture, and clean. This is a huge job and the Staff and BOD (6 people in all) need all the help we can get. Please keep shopping and showing up to your shifts! Help us clear the shelves and put our beloved store to rest with love and cooperative spirit. (Our staff has also had to begin pursuing other job opportunities, so we will need more help than ever to help keep the doors open. Please consider taking a shift this weekend!)

Second, we’ve got more information on our upcoming Vote for Dissolution. According to our bylaws, this vote:

  1. Is open to “active” Co-op owners who are in good standing, which means you are no more than 5 hours behind in shifts, have paid your membership fee, and have signed the membership agreement
  2. must be made in-person
  3. must be a vote to dissolve (for or against)
  4. must garner 2/3 or more “yes” votes for dissolution in order for the motion to pass. A non-vote is a vote against dissolution.

If you are in good standing, it will be possible to vote in the store beginning on Tuesday, November 14th. We will also hold a Get Out The Vote for Dissolution meeting/ special party on Tuesday, November 28th at which eligible Co-op owners will be able to vote, see their friends, have a drink, and say goodbye to our storefront at 1500 Burns St.

For information on what a “yes” vote means and what a “no” vote means, please see this Dissolution Vote Info Packet!

A YES VOTE

If ⅔ of the eligible votes are YES votes in favor of dissolution (note: abstentions count as “no” votes), then we:

  • Ensure that our taxes are all paid up and submit notice to the Secretary of State that we are dissolving.
  • Have a formal dissolution process reviewed by a legal counsel
  • Determine if we must hire someone to help with the dissolution
  • Liquidate our assets and pay back as much debt as possible
  • Under voluntary dissolution, to all remaining creditors we would essentially say, “We’re sorry, this is all that we have.”

If you vote against dissolution

If the motion to dissolve does not pass, then Co-op will by default move forward with the plan that appears most feasible and sustainable to the Board and Staff. Detailed information on our vision is in the Dissolution Vote Info Packet

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If you are eligible to vote, please read this packet to make an informed decisionTo find out if you are eligible, find yourself in the attendance database and look at the value in the “Current Overall Status” on the far right. If the value is -5 or greater, you are current on ownership payments, and you signed an ownership agreement, then you are technically “active.” If you have questions about your attendance record or status, email Sam.

Thanks for your continued cooperation and support. Remember: keep shopping, pick up shifts, and we’ll see you at our farewell/voting party on Tuesday, November 28th @6PM!

In cooperation,

BOD & Staff

Permanent link to this article: http://missoulafoodcoop.com/co-op-store-is-closing/

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