PORT TOWNSEND — Water Street Brewing and Ale House is looking at better times after an auction last weekend helped the owners move closer to the end of a financial nightmare.
The brewery and restaurant — just three weeks after appealing to the community for help — is said to be only a little way away from being back in the black.
“We’re so grateful to the community,” said Mark Burr, co-owner with Nina Law and Skip Madsen.
“We feel like the town’s tavern now more than ever.”
In February, the company announced it was facing closure of the landmark at 639 Water St. if it could not pay back sales taxes by today.
An auction of local artisans’ wares over the weekend to benefit the brewery bridged a solid portion of the gap, and now the three owners say they are seeing the light at the end of the tunnel.
Deadline extension
Also, they have received an extension to March 24 to pay the taxes.
“We’re still a little short, but the confidence is high,” Burr said. “We’ve had so much support with the donations, the pledges and the auction.”
While the owners are not releasing exact numbers, Burr believes the brewery will make it if it can keep up the support from the community.
Quite frankly, he is hoping people will continue to come to the business at Water and Quincy streets to buy beer.
“Yes, come down and buy beer,” he said, smiling, “or you can make a pledge to help.”
Pledge system
The brewery is offering a pledge system to allow community members to make a small investment in the local tavern.
Amy McKenzie, manager of the pub, said the pledges have taken on a flavor of their own.
“In essence, it is a loan, but they are interesting play cards, like big gift certificates that can be cashed in,” McKenzie said.
Among the cash-in options the brewery is offering are beer subscriptions in which a patron can refill a growler — a half-gallon — with microbrew at any given interval, a down payment for a five-course brewer’s dinner hosted by master brewer Madsen, private parties with specialty ales and the opportunity to have a microbrew named in the honor of the donor.
“The pledges will only be cashed if we know we are going to make it,” Burr said.
“Even if the worst happens later on down the road, we will pay it back as a loan.
“It’s a leap of faith in the business.”
Along with increasing costs of brewing beer, the company is looking at the closure of the Hood Canal bridge and decreased spending because of the economy.
Law said that despite the difficulty, she believes they will turn it around.
“We are looking to the future,” Law said.
“It’s not just a bar here, and the community last weekend proved that.”
Looking forward, the owners plan to increase distribution of their product.
Burr said that, while the pub itself will likely remain “the community’s living room,” the owners want to plan to make a profit rather than just “tread water as we have been.”
Since opening the bar three years ago, the owners have hosted community events such as a beer-themed olympics, an annual winter brew festival and summer concerts on the nearby city dock.
The brewery has garnered acclaim through Madsen, its master brewer, who has achieved recognition a dozen times in North American Beer Awards competitions and the World Beer Cup.
“No matter what, we want to give out a monster thank-you to the people who have showed up,” Burr said.
“This has been a great success.”
For more information on the pledge options available, phone Water Street Brewing and Ale House at 360-379-6438 or visit the pub at 639 Water St., Port Townsend.
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Reporter Erik Hidle can be reached at 360-385-2335 or at erik.hidle@peninsuladailynews.com.
