One of the Cedaredge downtown business owners interviewed by the Delta County Independent in last week's story about coping with the street project, Patrece Reed, has decided after all to close.
The last day was Saturday, Aug. 17.
The Wagon Wheel Café opened in April. According to Reed and some of her business neighbors on Main Street, the Wagon Wheel had not yet succeeded in establishing the regular clientele a small business depends on.
Reed said that the café was beginning to see a break-even cash flow but lacked sufficient operating reserves when business declined, she said, due to inconvenience of the street project. She didn't blame the street project for the closing but said it caused a drop off in trade. She noted the lack of capital to see business through the downturn it created.
Other businesses downtown have seen business drop off since the project started, the DCI reported last week. In that story Reed said that she would try and scale back her hours of business as an alternative to shuttering the establishment.
Small business needs capital to continue operating during any down business period. The Wagon Wheel was faced with meeting its business capital needs by taking on debt, which in a message to customers Patrece and her husband, Al, explained they were not willing to do.
"It is with deepest regret" that the Reeds have decided to close their restaurant, says a message to customers posted in the front door window.
"We have tried our best to stay in operation through what has been a challenging summer season. But at this time, the only practical action for us to take is to close our doors due to greatly reduced income and mounting debt," the message says. "We apologize that we were forced with having to make this most difficult decision."blog comments powered by Disqus