A BUSINESSMAN has said he does not want to sell his popular bar – despite putting it on the market.
Fraser Donaldson said he is trying to raise cash to pay for Bar Plazma, in Wickford, to have a much-needed makeover.
He went to the bank but they said they could not give him the money he needed without proof the bar was worth what he was saying.
Mr Donaldson said an estate agent assessment was not enough and therefore decided to put it on the market to see what offers came in.
However, he has also admitted if someone offered him £295,000 he would not be able to turn them down.
He said: “From the outset, I would like to make it clear if someone was to offer me more than £295,000 I would sell the business, because no one can turn that down.
“But what we are trying to do is raise money to pay for a refurbishment.
“It has been five years since it has had one and it’s needed.
“We have gone to the bank and they will lend us money, but it’s not enough and if we can get confirmation of the bar’s valuation through a real offer such as £250,000, then we can borrow up to that amount from the bank.
But they want the proof first.”
The Echo revealed last week Bar Plazma, in the High Street, had been put on the market.