Buyer seeking funding to reopen Lunker’s
Published 7:52 am Friday, February 26, 2016
A scheduled auctioning of items from Lunker’s and Angler’s Inn is off and the business could reopen in the near future.
The 60,000-square foot tackle shop and restaurant closed after 30 years last summer and has remained closed ever since.
An auction of items inside the business was scheduled for late February or early March, but that has been put on hold as a prospective buyer had come forward according to Joe Grabill, of Compass Asset Management, the company overseeing Lunker’s.
The company interested in purchasing the property has restaurant experience and would like to reopen the entire facility, but is currently seeking financing.
“We have a prospective purchaser and that is why we have delayed holding any kind of an auction,” Grabill said. “I am not in a position to name any buyer, but I can tell you they are actively pursuing financing in an attempt to reopen both the sporting goods side and a new restaurant concept.”
Compass Asset Management was awaiting a court order in order to proceed with the auction. They had finally received the court order, but the auction was put on hold when a prospective buyer stepped forward.
Danny And April Striz, the former owners of Lunker’s said that the business never recovered from the recession in announcing the closing with a press release taped to the door. They have since moved to Iowa and opened a new business.