How much is a brand worth, particularly if that brand belongs to a beloved yet relatively small and locally owned business?
It’s a question Chelsea’s owner Dave Remmetter has been grappling with for the past three weeks ever since he announced he wanted out of the restaurant and nightclub he has operated at 2857 Perkins Road for the past 10 years.
At first, Remmetter says he wanted to sell the Chelsea’s brand to a new owner, who, he hoped, would keep open the popular neighborhood eatery and live music venue.
But after talking to several potential buyers, Remmetter decided not to sell the rights to the Chelsea’s name.
“I had a couple of offers on the table, but I felt like in the end, Chelsea’s is mine,” says Remmetter, whose family started the business 28 years ago at 128 W. State St. before moving it to its present location under the Perkins Road overpass. “I think Chelsea’s is better off in my pocket than in anyone else’s.”
Remmetter won’t reveal the asking price he wanted for what amounts, basically, to a name. He says he had a few offers that were “good but not great,” and that he hopes to sell off the furniture, fixture and equipment to a restaurant supply house or other interested party once Chelsea’s closes for good Thursday.
It’s unclear what the future holds for the building that has housed Chelsea’s since 2006. A representative for the owners, members of the Aucoin family, did not return several calls seeking comment.
Sources familiar with the situation, however, say negotiations are ongoing with a potential tenant who could take over the space once Remmetter’s lease expires in late January.
One of the main reasons Remmetter cited for wanting to close Chelsea’s was his ongoing frustration with the property owner over the building’s shoddy condition and leaky roof.
“It’s hard enough to be in the restaurant business without having to worry about whether it’s going to rain,” says Remmetter, who also owns several other local businesses.
In anticipation of Chelsea’s closure, loyal customers have packed the establishment this week. Remmetter says he appreciates the support and may reopen Chelsea’s at some later date in the future.
“I don’t want to lead people on and let them think I am going to reopen,” he says. “But I’d like to keep it as an option down the line.”
—Stephanie Riegel
