Villagers buy shares in local pub

A pub has reopened in a Warwickshire village after residents helped finance a £280,000 refurbishment project.



Local MP Jeremy Wright (left) was on hand to help open the pub on Saturday

Villagers were asked to buy £500 blocks of shares in a bid to get The Merrie Lion in Fenny Compton, which closed in 2010, running as a pub again.

A property developer had wanted to turn the building into housing.

New owner Nigel Leck convinced 60 locals to become shareholders and they now receive a discount on meals as well as a return on the money invested.