The only grocery store in the small Central Iowa town of Jewell was closing, but residents decided to save it. The Heartland Market in Iowa was doing massive downsizing and closed 5 of their area stores.
But locals said no. They formed the Jewell Market LLC and have sold 130 shares at $2000 each so they have over a quarter of a million dollars now to reopen the supermarket!
This is not the first time they’ve done this to save a store. They did the same thing back in 2001 when their hardware store, Jewell Farm and Home, announced it was closing and today, it’s thriving.