Ace Gershfield, one of the people behind the Temple Place watering hole, announced and explained the permanent closing today:
We derived close to 40% of our revenues from the Downtown Crossing theaters and shows, those are non existent. We generated 40% of our revenue from the everyday workers in the office buildings near by, those were closed, then let to reopen at 25% capacity and now upwards of 50% but the area is still desolate! After work and special events drove the remaining traffic of which we have NONE! We have no out door space or parking lots to set up outdoor dining options as we are located on a street with the sliver line bus that runs daily. Our landlord would not negotiate with us for better terms. We tried to get creative but to no avail it did not work out. Now we have to buy ourselves out of our remaining 2 year lease, our largest asset which is our liquor license is worth less than half its value 6 months ago, any money we retain from that license sale will go directly to buy out our remaining lease terms. If and when we sell the remaining infrastructure such as our amazing bar from the UK we will have lost our entire investment! 8+ years of business gone! So many memories shared with the city of Boston simply disappear!
Via Boston Restaurant Talk, which only 90 minutes or so earlier reported the Kinsale closing.
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