UPDATE: It turns out that Brixton Cycles isn't the first bike shop to have hit a crowd funding target, with Roll for the Soul- a community bike cafe and workshop - having done the same.
London's oldest worker-owned bike cooperative has been saved by the crowd, after a £40K crowdfunding campaign hit its target in less than a week.
Brixton Cycles – named 'London's best small bike retailer' by the London Cycling Awards – officially launched its campaign on Crowdfunder.co.uk on Thursday evening (22 October) and hit its target just before 7pm last night, five days later.
The campaign's public launch was preceded by a private preview to the shop's nearest and dearest, on Wednesday 21st, which generated more than 25% of funds towards the crowdfunding total. The campaign now has a new target of £80,000 with 28 days left to go.
Brixton Cycles is fundraising to find a new home in Brixton, after discovering that the shop's current premises are to be demolished to make way for luxury flats in early 2016, as part of the gentrification of the area.
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