Saturday, February 21, 2009
Jae's Inn Update
It looks like Jae got the life preserver on before he sank. From yesterday's Transcript:
As for the rumors swirling around the Freight Yard and Taylor's, I've heard them, but they've never been more than speculation. The one part of the Colleen and Sean empire that did change hands recently was the Cobbleview Pub and Pizzeria in Chesire. If I understand it correctly, Sean sold his interest the business to Holly Drosehn, the partner he opened it with.
Stay tuned. Nationwide, the casual sit-down segment of the restaurant business is off by over 30% from the previous year. When the economy finally recovers, the restaurant landscape will surely look a little different. ¶ 9:22 AM
Rumors began circulating last week after a foreclosure notice for the 11-acre South State Street property was published as a legal advertisement. According to the Northern Berkshire Registry of Deeds, Chung took out a $474,000 mortgage on the property last April.I hope this works out for Jae. We ate there this past Tuesday night (Cheap Sushi night!) and my fear was that it would be the last time.
"We're not closing," Chung said Thursday. "I've met with the president of the (Adams Co-operative) bank and we've made a deal. We have restructured the loan.
As for the rumors swirling around the Freight Yard and Taylor's, I've heard them, but they've never been more than speculation. The one part of the Colleen and Sean empire that did change hands recently was the Cobbleview Pub and Pizzeria in Chesire. If I understand it correctly, Sean sold his interest the business to Holly Drosehn, the partner he opened it with.
Stay tuned. Nationwide, the casual sit-down segment of the restaurant business is off by over 30% from the previous year. When the economy finally recovers, the restaurant landscape will surely look a little different. ¶ 9:22 AM
