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Paying "On The Nail": Bath Coffee Bar sold in historic style!

1/9/16

BATH COFFEE BAR SOLD IN HISTORIC STYLE!

 

Time Out, one of Bath’s most popular coffee bars situated in Bath Guildhall Market, has changed ownership in true historic market style.    Previous owners, Mike Watts and Wendy Race have sold the classic 50s style bar to new owner Emily Peacock and the sale was conducted on the famous 18th century pillar ‘The Nail’ in the Guildhall Market.    Historically, all buying and selling between market traders and suppliers was conducted on ‘The Nail’ – coining the phrase we all know and use today ‘Pay on the Nail’!   Time Out is owned by Time Out Coffee Bar Limited and the whole process of exchange of shares, payment and resignation of directors was conducted on ‘The Nail’ all under the watchful eye of Bath based Chartered Company Secretary Paul Dolan.

 

Paying on the Nail in the Guildhall, Bath

Photo shows:   L-R   Paul Dolan, Wendy Race, Emily Peacock & Mike Watts

Mike Watts says, ‘We were absolutely overwhelmed by the response to our sales advertisement for our Bath Coffee Shop on DaltonsBusiness.com with enquiries from all over the UK as well as one from Bahrain and four from South Africa!    However, Wendy and I were very selective as to whom we sold the business, as Bath Guildhall Market is a very special place and we wanted to be sure any new owner would fit into the family atmosphere amongst the traders but we certainly feel we found the right person!’

 

Wendy Race says, ‘Mike and I will really miss the social side of Time Out as we have met some wonderful people, since we established the business back in 2009, many of whom have become firm friends but as Mike’s going to hit his 65th birthday next month I felt it was time to let him reduce his daily workload and concentrate on our other two Funtastic! shops in the Guildhall Market.    We have really enjoyed owning and operating Time Out over the years but are so pleased that it’s now in the safe hands of Emily who is already ringing the changes and adding her new and fresh ideas to the yummy offerings!’

 

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