Sweet n Savory owner Rob Shapiro said that plans are still in the works for a Leland location.
Shapiro was responding to media reports of a "For Lease" sign posted at the former Eddie Romanelli’s/Fat Tony’s location in the Waterford shopping center.
He said his initial lease of the space with Exum Properties was contingent upon him receiving funding for the restaurant by the end of June. He was granted a temporary extension, but because he did not have adequate funding following the extension, the building went back on the market.
Shapiro said the building’s landlord, Bert Exum, is hopeful that Sweet n Savory will receive the capital necessary to reinstate the lease and that Exum has signed on as an investor in the new restaurant.
“I’m not doing anything under-capitalized,” Shapiro said. “I believe we will get it funded, and it’s my hope that the timing will work out for us to be in this location. If this location falls through, we will still pursue another Leland location.”
When Shapiro first announced his plans for the Leland location, he launched a Kickstarter campaign with the goal of raising $450,000 for a community-supported restaurant. The attempt was unsuccessful, however, raising just shy of $5,000. In late May, Shapiro announced that he would instead seek private funding
for the project.
“I took a very idealistic approach at first,” Shapiro said. “Now the key is finding the right investors, ones that truly believe in the brand.”
Shapiro said that to date he’s received about 50% of the funding he needs to move forward.