Owner of Shrewsbury's Buttermarket to stand down for 'larger independent group'
“This is a new beginning for the Buttermarket to secure its future”
The owner of a major venue in Shrewsbury is stepping back after 15 years, as the site prepares to become a part of an as yet unnamed “larger independent group”.
Martin Monahan has owned the Buttermarket since 2012, but on Monday night (October 19), the businessman announced that the venue was about to enter a new era as he gets ready to hand over the ownership reins to a new team.
The businessman has said that after millions of pounds of investment into the venue, he has decided that now is the time to relinquish control.
He has attempted to reassure patrons that there will be continuity as the takeover happens early next year, and that the deal is “to secure its [the Buttermarket’s] future”.
In a statement on social media, Mr Monahan said: “After 15 years of owning the Buttermarket, now is the time for me to hand over that baton.
“In 2012, I bought the Buttermarket and it was a very unloved and derelict building, and we spent £2 million on it, and we brought it back to life.
“And I have to say, in the last two years, you really have embraced it. Our mission has always been for it to be Shropshire’s biggest independent live music and events venue, and you’ve done that, along with our team here, led by Claire.
“But I was always conscious that I needed to hand on the baton at some point. Well, that time is not right now, but it will be in January 2027.
“Don’t worry, all your tickets are valid. Nothing is going to change. You are still going to be greeted by Claire on the door there. You are still going to be served by Rachel and her team in the Buttermarket.
“So, nothing is going to change, other than we have got a brand-new, dynamic team to support Claire and her team, and bet you are gagging, who is it?
“I can't reveal that quite yet, [but] I will be revealing it on Wednesday morning, however.
“But what I can assure you is, nothing will change. This is a new beginning for the Buttermarket to secure its future. Check out socials on Wednesday and see who the new owners are.”
The social media post stated that Mr Monahan had been in “months of conversations and negotiations” regarding the deal.
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