SEQUIM — Deb Ferguson, who closed The Buzz last week because of an insurmountable debt, said that as owner of one of Sequim’s most popular gathering places, she is “going down in a buzz of glory.”
Facing foreclosure, Ferguson listened to a suggestion from her loyal customers in a Friday gathering that she sell some of the unique items in her coffee shop at 128 N. Sequim Ave. and merchandise in the adjacent BeeDazzled boutique to pay back some of her debt.
“I can sell the building, if that’s what it comes to,” Ferguson said.
About 30 Friends of The Buzz gathered for more than two hours Friday to lend support to Ferguson and brainstorm ways to help the financially troubled community institution.
In a Saturday interview, Ferguson said a sale will take place at The Buzz on a date to be determined, probably in a week or two.
Some items will be available on silent auction as she is setting up the sale this week.
Other Friends of The Buzz suggested Ferguson open a co-op, apply for economic assistance grants, hold fundraisers, obtain a reverse mortgage, open a bookstore or rent a portion of her building.
Ferguson liked the ideas.
But she’s running out of time.
Foreclosure looming
Ferguson believes she has until April 19 to come up with the $63,902.12 she owes in late charges, legal fees and foreclosure fees to avert a May 4 foreclosure sale.
According to a legal notice published in the Peninsula Daily News classified ads Wednesday, the principal debt on the property is $137,542.59, and the interest is $51,086.62.
Asked in the meeting how things got to that point, Ferguson conceded that she lacks business expertise. She took full responsibility for her financial predicament.
“I’m the queen bee,” she said.
“I’m completely responsible.”
Like most small businesses, the economy has taken its toll on The Buzz.
The price of coffee beans has skyrocketed at a time when people have more and more options for coffee, Ferguson said.
Ferguson thought about getting a wine and beer license and opening a restaurant to keep the business afloat.
“If you just keep The Buzz open under the same circumstances, it’s not going to work,” she said.
Ferguson choked back tears when she talked about the barren walls and silence inside The Buzz after she closed Tuesday.
She compared the sense of emptiness to a body after a person dies.
“That’s how this felt the other night, was that the soul of it was gone,” Ferguson said.
“The soul of The Buzz was gone,” she said.
“No artists, no people, no staff, no worker bees. That’s what makes The Buzz The Buzz — and all of you. It’s been a struggle for a long time.”
Ferguson opened BeeDazzled 13 years ago and The Buzz nine years ago in the building she owns.
She expanded to the Itty Bitty Buzz in Port Angeles eight years ago in a rented spot. Oven Spoonful owner Dave Long said he plans to reopen that coffee shop.
Others suggested Ferguson apply for a historic-site designation. Ferguson said the application process would take too long.
Built in 1926, the building was home to a bakery in its early years and became a US0 club during World War II.
It housed Rudy’s Mercantile after the war.
Two people at Friday’s meeting said they had loaned her money and hadn’t been repaid.
Ferguson admitted to the two loans but said little else.
Several people left then, and it was suggested that the meeting end there, but Ferguson pleaded with her customers to stay.
Richard Terril was among the two dozen or so who stayed.
Terril had sat in the front row at open mic night Wednesdays at The Buzz for more than three years.
He said open mic nights were one of the highlights of his week.
‘All you can do’
“You’ve done all you can do,” Terril told Ferguson.
“Just by having The Buzz and having the open mic, I think we can all be thankful for that.”
In the end, Ferguson said the business model wasn’t sustainable.
“We have so many loyal customers who come in every day,” Ferguson said.
“But it’s not enough.”
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Reporter Rob Ollikainen can be reached at 360-417-3537 or at rob.ollikainen@peninsuladailynews.com.
