ChiliBeans said:Quote:
I know Kays wasn't slammed 6 nights a week but it boggles my mind the cash flow on an owned piece of property can't justify the one time profit the developer is gonna see on 6 townhouses right there.
I know the owners wanted to cash out so I guess its just taking the million(s) they got offered and taking off to the Hill Country.
Strange comment coming from the tine board's official Houston bar and restaurant scene insider guy. Figured you would know the owners have other interests in town, and already have said they may reopen Kay's elsewhere.
I have no idea of their finances, but the place was uncomfortably dead the last couple times I stopped by. Not, "cool i have the pool table to myself" slow, but "wondering if I'm annoying the servers" slow. Overhead costs don't go away with the crowd. It's a tough business, and they've kept Kay's open a lot longer than I really expected, given the surroundings. It's another sucky sign of the d-bag times we live in, but I don't know how anybody could blame the owners for taking a good offer. It's a business, not a charity devoted to nostalgia.
I can think of a few other healthy businesses that closed when property taxes and other costs outpaced the real value of the business. Anyone remember JMH grocery?
I really liked Kay's, but the last few times I went the music was ridiculously loud. Yelling at the person sitting next to you loud. I went with groups of six or so and we couldn't communicate at all. I think we ended up at Volcano so we could enjoy some conversation.
