Lynn's Paradise Cafe has no asking price, according to Ken Kapp of the Allston Group, the broker Winter hired last month to list Lynn's. Previously Winter had been fielding offers on her own.
"The individual that goes in there sort of needs to match up with Lynn's [Winter, the restaurant's owner] feelings as to who that should be," Kapp said. "I think the price is something we'll work out through a bid process. A big part of it's been who's taking it over."
Kapp said both local and out-of-town buyers have expressed interested in the shuttered Germantown restaurant. While there's no timeframe for a deal, Kapp said, "It certainly would be nice if it happened before the first of the year. But that's not a critical date for us by any means."
While cash flow and the bid are two criteria, Kapp identified other areas Winter would evaluate bidders on: "I think it's a discussion of the concept, a discussion of Lynn's role going forward with it, and what the buyer may want to do with the restaurant."
"Lynn wants to make sure she can meet the expectations of the new buyers. She wants to make sure she doesn't overcommit or is asked to do something," Kapp said. "She's had Lynn's I think it's 23 years, and it's just time for some new blood to take that and carry it. Lynn wants to make sure they're very successful doing that. And that's what's taken time. It's that discussion of what are your expectations, what are we talking about, how long do I need to stay around, what do you want me to do for you."
To recap the Lynn's story yet again: On Jan. 2, 2013, Lynn's started requiring all food servers to carry $100 cash for each shift to tip out support staff, a possible violation of Kentucky law. At least one waitress, Leila DiFazio, claimed she was fired for failing to do so. DiFazio then shared her story on WLKY's Facebook Fan Page. On Jan. 11, Kentucky Jobs With Justice: A Campaign for Worker's Rights started an awareness campaign about Lynn's practices, that drew the attention of WAVE 3, which aired segments about the dispute on its 6 and 11 p.m. newscasts.
Later that day, owner Lynn Winter shuttered the 22-year-old restaurant. In subsequent interviews, Winter repeatedly denied that labor issues were behind the closure, but she didn't supply a reason until Sept. 20 when she said she closed Lynn's Paradise Cafe because she had shingles.
·All Lynn's Paradise Cafe coverage [~ELOU~]
[Photo: Facebook/Lynn's Paradise Cafe]