6/24/2011

Taboo Sold

Posted by MJ

The Buffalo News reported that Ulrich has sold Taboo to two of the employees.

Taboo Night Club will be sold to members of its management team by Aug. 1.

Club manager Chris Bell and night manager Brian Junke are buying the business from David Ulrich, Bell confirmed Thursday.

Once a new liquor license is in place, they’ll rename it Lock 34 Bar & Grill and operate it seven days a week.
It's great to see the additional operating schedule. My only question is why do most recent businesses have to tack on "Bar and Grill" to their name? It's superfluous and sounds "dumbed down". Or in the case of the old "Indian Bar and Grill", a tad confusing.

Did Applebee's "Neighborhood Bar and Grill" slogan set a bad precedent? I can see them trying to convince us of what they are trying to be but a local place should not need such a propaganda campaign.

"Lock 34" is a nice simple name. I like "Lock 36" playing off the same concept as the "19th hole" in golf. what better place to end your trip up the canal?

And the more taps there are the merrier. I've always pined for an EBC like the one in Fredonia to be located on Main St somewhere.
Bell said, and five taps are being added for a total of nine draft beer selections, two of which will be less common microbrews, like blueberry beer.
In regards to the old GLDC loans, they are being transferred to the new owners.
 Their deal with Ulrich was sealed Thursday, when the Greater Lockport Development Corporation board of directors approved transfer of an outstanding loan to Lock 34 from Taboo. In 2007, GLDC OK’d a 10-year, $177,000 loan to Ulrich; and terms of the business sale included a requirement that Bell and Junke assume the $115,000 balance. The board OK’d the transfer with two repayment offers: 2 percent interest over 4 years or 4 percent interest over 6 years. Bell and Junke didn’t decide which terms to take yet.
Will this end the "Ulrich has these concerts to enrich his bar." comments?

9 comments:

Anonymous said...

No on the Ulrich thing, he will still probably make the most money on this bar as he will make money selling it plus he will make money on the rent - if concerts go away will the bar survive?

Anonymous said...

He'll just open another restaurant/bar next door to undercut his new tenants just like he did to Peter Calleri. Have never seen a landlord in competition with his tenants before til the King.

G.I.Joe said...

poor Peter..he borrowed almost $500,000 and only paid back half of it. Why would he think a high-end restaurant would fail in downtown Lockport? He made out OK...My understanding is he had a personal guarantee against the loan, and they let him off the hook.

Ulrich is a businessman. He's suppose to make money and maximize his investments. Ever hear of a "non-compete" agreement? Someone needs a new lawyer.

MJ said...

Because DT can only handle one restaurant? Because salads compete with high end food? Is there always someone else to blame instead of the person operating/owning the operation?

It's survival will not depend on 9 concerts outside of it. It will stand or fall on its owners merits.

Lockport has higher end food (relatively speaking) it's just that it is located in outdated spaces (like Garlock's). Though we are probably at a price point where a building needs to be paid off to make it feasible.

Debi said...

High end food? Their fried seafood platter is certainly not high end, let alone worth it's price on the menu. I hope the menu gets a boost of quality.

Anonymous said...

Good food here in Lockport? Yes there is..some

High end ambiance? If you have done any traveling at all it's obvious that WNY is not famous for it's great restaurants. Open the kind of eatery people in this area want and like.

Honestly? If I were to do it..it would be an "All you can Eat" joint. 98% of the People here want large portions and cheap food.

Patti said...

There's no place in Lockport we would be comfortable taking out-of-town friends. Perhaps Shamus? I've never had a bad meal there and the outside terrace is lovely in the Summer.
Otherwise? Start with Oliver's and any little family owned restaurant on Hertel Avenue though I don't really recognize it west of Eggert Road anymore, Unless you're fond of misc. wrapped in grape leaves.

hitler said...

as far as 'high end', none in lockport, and unless our population shifts, you will not see one. even a pseudo-high end restaurant could not cut it, as indicated by the metropolitian. indian could not cut it either, but if you ask me, it was a quality of food issue (and as they are both closed, i don't feel bad saying so in a public forum). you'll be headed off to buffalo for 'high end' fare.

for greasy spoon / diner / italian, we have that in spades, and some is quite good

Anonymous said...

MJ - off topic but I heard Maziers is trying to get aid money for local GOLF COURSES because of the wet spring we had. Supposedly Oak Run is getting money.
i really hope we won't be giving money to golf courses. I don't think they ever gave money to the state when they had great spring weather!

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