Whig & Courier Pub slated for the auction block
Popular downtown eatery The Whig & Courier Pub and Restaurant is scheduled to be auctioned off next month as part of foreclosure proceedings.
According to a listing from South Portland-based Keenan Auction Co., an auction will be held July 21 for the downtown restaurant's real estate at 14 Broad St. and its equipment. A $20,000 deposit is required for a winning bid. According to the city, the land is assessed at $26,600 and the four-story building at $234,500. The building contains a bar, dining area and full kitchen on the first floor, a meeting room and apartment on the second floor, three apartments on the third floor and storage on the fourth floor.
Owners Chris and Michelle Geaghan first announced the restaurant would close at the end of May, nearly a year after the couple declared bankruptcy, according to the Bangor Daily News. But before the month's end, Chris Geaghan told the paper he'd been negotiating with the city of Bangor, Eastern Maine Development Corp. and Camden National Bank to secure financing to keep the restaurant open. A message on the company's website still says it has been granted an extension on its loan and will not be closing.
However, the city last week denied the Geaghans' request for funding, and the bank also denied a request for more money, according to the Daily News. An attorney representing the restaurant's owners said it would likely close by the end of June.
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