You wonder if the ccc did an adequate feasibility study as outlined below. Could there have been another way to recover any remaining equity and start fresh.
Information guide on cooperatives
Step 2: Conduct a pre-feasibility study
Conduct a preliminary market review.
Identify available technical and financial assistance.
Assess receptiveness to the co-operative business idea in the local community.
Evaluate if the co-operative is the best legal framework to use or if the kind of co-operative selected is the most suitable.
Define the intended benefits of the co-operative for members (e.g., quality, price) and characteristics:
products and services offered (consumer co-op)
or products and services marketed (producer co-op)
or jobs and working conditions (worker co-op)
Evaluate the project’s potential to attract the minimum number of members required.
If this preliminary study is not conclusive, the group should re-evaluate its business idea. If this study shows that the planned co-operative is feasible, the group can proceed to the second phase.