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Riverwest Co-op at risk of closing
The volunteer-run grocery store and café has been open for over 22 years.
MILWAUKEE - The Riverwest Co-op, located at the corner of Clarke and Fratney in Milwaukee, is at risk of closing. The volunteer-run grocery store and café has been open for over 22 years.
They are asking for urgent help with saving the co-op. This, as they are just weeks away from having to close their doors unless they can get additional funding. In an effort to help, they are asking the public to consider shopping there – and they have also created a GoFundMe Page.
"I don’t think there’s any place like the Riverwest Food Co-op in all of Milwaukee or the surrounding area. It’s really like your local corner-store, with a conscience," said Jill Capicchioni, Riverwest Co-op treasurer.
The Riverwest Co-op prides itself on selling local items – like apples from Waukesha County and pickles from Brown Deer. Additionally, there are many options for vegans.
Riverwest Co-op
One lingering problem is that the co-op relies on volunteers, but it stopped the program during the pandemic. It's now back, but not up to the same pre-pandemic levels.
"COVID-19 really changed things. That really got people into buying groceries online and really changed how people shop," said Jill Capicchioni. "Also, just in the Milwaukee community, we have a lot more competition. We have more restaurants that cater to vegan food. We have more grocery stores that are organic and fresh food. So we do have a lot more competition. It’s hard for a small grocery store to compete with that."
According to a GoFundMe Page, their prospective lender decided not to recommend the co-op’s $150,000 loan application for approval. At the current rate of financial losses, the co-op can survive for only one more month before having to close unless they receive a considerable capital influx.
Riverwest Co-op
"The co-op has been struggling, really, primarily from the pandemic. It is unique to our co-op that we survive on a lot of volunteers," said Capicchioni. "We really do encourage volunteering. It helps the co-op, from an expense perspective. But it’s just a great way to connect with people in the neighborhood. I love to volunteer."
The co-op set up a GoFundMe page, looking to raise $50,000. People have donated more than $15,000.
"We've been really overwhelmed by the community support we've gotten from the GoFundMe," said Capicchioni. "It feels like we’ve got the support of the community, and we’re going to fight to keep this special place alive. Month over month, we started to deplete our financial reserves. So literally, the donations that are happening right now, you know the first $12,000 are really going to go into our bank account, so that we continue to do payroll and continue to buy goods to sell in the store. So, it’s really the lifeline."
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GoFundMe Page details:
The Board of Directors, consequently, is adopting an immediate, three-pronged strategy:
- Fundraising: A GoFundMe campaign to raise a minimum $50,000 for 2024, dedicating a small portion to daily operations until we complete the other two prongs;
- Cutting: We will coordinate with the Worker’s Collective on reducing the Co-op’s hours and services over the next weeks, potentially leading to payroll cuts; and
- Planning: We will reformulate the revitalization plan in order to apply for smaller loans and to invest the money raised into the Co-op.
The coming weeks will be very difficult, with discussions about reducing payroll expenses and possibly closing the Co-op. That said, we have reason for optimism. Our November 2023 gross profit percentage improved dramatically from prior months due to pricing structure adjustments. Our café sales also increased 64% from the same time last year. These developments imply that our revitalization plan can work if we have enough financial capacity to put it in place.
To support the Co-op during this difficult time, please spread the word by sharing this campaign; tell your friends, family, and neighbors to help save the Riverwest Co-op! Your donation is greatly appreciated and WILL make a difference. Your support today will allow us to be here tomorrow and in years to come. You may also give by cash, check, or credit card at the store, or by mail.