Business

The Gamble Mill sheriff’s sale continued for a later date

A continuance was submitted Wednesday on the sheriff’s sale for The Gamble Mill. Owners say they want more time to negotiate a private sale. The eatery closed in January 2015.
A continuance was submitted Wednesday on the sheriff’s sale for The Gamble Mill. Owners say they want more time to negotiate a private sale. The eatery closed in January 2015. nmark@centredaily.com

The Gamble Mill was scheduled for a sheriff’s sale Thursday, but the owners were given more time to negotiate a private sale.

The restaurant faces foreclosure by Kish Bank, which placed liabilities against the mill’s owners at about $573,000 plus interest and fees, according to court documents.

McQuaide Blasko’s Sean Burke, who represents Kish Bank, submitted a continuation Wednesday on the sheriff’s sale, postponing it until an unspecified date. He declined comments.

The Gamble Mil co-owner Dave Fonash told the Centre Daily Times in December he wanted to sell the building instead of allowing it to go to a sheriff’s sale, but did not respond to requests for comment Wednesday.

“We have a buyer that we are working with that the bank feels comfortable with and that we also feel comfortable with,” he said in December.

Fonash declined to identify the interested buyer, although he said they are from out of town. He also did not want to discuss the buyer’s plans for the restaurant.

Fonash and Gamble Mill co-owner Paul Kendeffy closed the eatery in January 2015, updating patrons through Facebook posts saying they wanted to reopen. Ultimately they decided to keep the doors shut to pursue other career opportunities.

The mill was listed by Kissinger, Bigatel and Brower Realtors at $1.3 million in November 2014, and the price on KBB’s website has dropped to $1 million.

Fonash said last year he would market the mill as a turnkey brewery pub with two different options. The first option would sell the business assets, the brewery and the restaurant and brew pub licenses. The second option would exclude the restaurant license.

The mill’s bottom two floors, about 5,900 square feet, are developed for the restaurant and brewery.

Fonash and Kendeffy sold Zola’s New World Bistro in January 2014.

Shawn Annarelli: 814-235-3928, @Shawn_Annarelli

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