Saturday Oct 1, 2016 11pm
The Dream Café temporarily suspends operations, effective midnight October 1st.
After careful consideration, The Board of Directors of the Dream Café Co-op regretfully announces the temporary suspension of operations of the Dream Cafe, effective midnight October 1.
A Special General Meeting of the Co-op Shareholders is called for Sunday October 30that 1pm at the Dream Café, where a sustainable new operations plan will be presented.
Since April 5, 2001, The Dream Café has been Penticton’s pride as a mecca for heartfelt music by talented artists from across the planet and is recognized as being one of Canada’s best. In October 2015, a new Co-op was formed to raise the capital to carry the Dream forward from its founder’s Pierre and Debra.
It was a complex transition and much noticeable and well complimented change was enacted. It’s been a good year by most accounts, with one exception. As structured and operated, it costs more to run than the money it takes in. The suspension today is the result of the exhaustion of its cash working capital. The directors voted the action to preserve goodwill and focus on essential changes to re-open, as early as November. A new plan must be formulated and new investment raised.
The Board will also seek new Directors and especially seek the help and wisdom of its dedicated shareholders and the public at large to come forward to help with the future. A detailed report and financial statements will be sent to the membership by Tuesday October 4th.
For more information, contact Paul Bouchard, firstname.lastname@example.org
THE DREAM CAFÉ
67 Colourful Front Street
Penticton, BC Canada