PORT TOWNSEND — Quimper Mercantile Co. is distributing stock certificates to those who have purchased shares in the new store, which is expected to open within the next six to eight weeks.
Chief Financial Officer Marty Gay said 556 certificates will be given to those who have bought stock since the offering began in January.
The publicly owned
Quimper Mercantile Co., or QMC, was formed after Swain’s Outdoors closed in February 2011.
It submitted its application to the state Department of Financial Institutions on
Sept. 1, 2011, to have a public stock offering and received approval to do so in January.
In June, the store hired Sheldon Spencer, a California resident who owns a home on Marrowstone Island, to be the store manager.
The new store will occupy the 15,700-square-foot space at the old Swain’s Outdoor location at 1121 Water St. in downtown Port Townsend.
Stock certificate distribution will take place at the Port Townsend Farmers Market every Saturday in September, Gay said.
Shareholders can identify themselves at the QMC booth at the market — which is open from 9 a.m. to 2 p.m. on Tyler Street between Lawrence and Clay streets — to pick up their certificates.
After September, remaining certificates will be mailed to shareholders, or they can contact Gay directly at 360-808-1478.
The company has raised about $525,000 in stock, which it will continue to sell until Jan. 3, when the sale deadline expires.
Gay said the company is encouraging people to buy stock because it will expand the depth of the inventory that the store will offer.
The plan is to offer many of the general-merchandise goods that were sold at Swain’s — after making sure they are not readily available in Port Townsend.
The new store will be one huge room with concrete floors, a high ceiling and a mural, said Chief Executive Officer Peter Quinn during a tour for merchants earlier this month.
Quinn predicted opening day would be in late September or early October.
The store has hired three managers and hopes to eventually employ between 12 and 14 people, Quinn said.
For more information and a prospectus, phone 360-379-4693 or visit www.QuimperMerc.com.
Jefferson County Reporter Charlie Bermant can be reached at 360-385-2335 or at charlie.bermant@peninsuladailynews.com.
