To Our Friends, Supporters and Customers:
Dockside Tropical Café™ has closed its doors effective Monday March 28, 2016….and here is why:
May 2013: A two-year lease and a purchase agreement was signed for the location known as Dockside with a closing date set for August 31 2015.
August 2015: Because all lenders that we spoke with required two years’ tax returns, and we only had one at that time, Brian Sweeny offered a verbal agreement to put us on a month to month with rent remaining the same until we could acquire funding.
March 2016: After months of asking Brian Sweeny to put our verbal agreement into writing, for our security, we continued to seek funding.
March 12: We received a pre-approval with letter of intent from HomeBanc for the original purchase agreement plus a substantial amount for improvements, provided we had in writing that the original purchase agreement would be honored, which we immediately sent to Brian Sweeny via email.
March 14: We finally received an email from Brian Sweeny stating that our original purchase agreement and down payment would be honored, and go ahead and submit to our attorney, but with several outrageous provisions.
March 15: We replied to Brian that the pre-approval was for original purchase agreement not including the provisions which added up to approximately $20,000 more than agreed. That same evening we received a response stating “All provisions or NO DEAL.”
What we didn’t know at the time (see highlighted dates in ad above) is that they had placed an ad on Craigslist on March 1, listing Dockside for sale or lease using photos taken from our Facebook page. This in our opinion is very deceptive and unethical business practice. http://keys.craigslist.org/bfs/5471251639.htm
After a speaking with our main investors this past week, the decision was made to close immediately as there is no future at the current location without owning the property, despite the tremendous growth we have seen in just over two years’ time.
This has been one of the hardest decisions we have ever had to make, and led to many sleepless nights, thinking about the dream we had, the employees losing their jobs and the smiles & laughter of those that loved what we had done with our own unique branding.
We went out with bang, with a Dockside tradition, Sunday Jam. The Eric Stone Band & Sultans of Twang featured prominently along with a host of very talented local musicians. We love and appreciate all of those who supported us before, during and after.
The good news is because we have trademarked our brand, Dockside Tropical Café™ can go anywhere or morph into whatever we want it to. We have some ideas that we have already begun looking into, and once we have had a chance to regroup, will continue to research to keep our dream alive. All charter crew members and those that supported us with our second crowdfund are and will continue to be a part of our dream, with all rewards being honored.
We look forward to keeping everyone updated as this process unfolds.
With humble appreciation for your support,
Eric Stone & Kim Hess-Stone