Iris Grill shut its doors June 30
July 7, 2009
By Chantelle Lusebrink
Diners eat at the Iris Grill earlier this year. Not enough ate at the restaurant, however, to pull owner Bill McIntyre out of debt. File
Diners eat at the Iris Grill earlier this year. Not enough ate at the restaurant, however, to pull owner Bill McIntyre out of debt. File
After seven years of operation the Iris Grill in Gilman Village closed its doors June 30.
“I just want to say how much of a pleasure it has been to serve this community for the amount of time we’ve been here,” said owner Bill McIntyre. “Despite what is happening now, this has been the best experience of my life — the fulfillment of a lifelong dream of mine to own and operate a restaurant.”
The closure has been a few years coming, he said.
The restaurant opened in 2002 under different ownership. McIntyre said he began looking into purchasing it in 2003 and made the sale final in 2004. But it was a fire in April that year that became the root of a problem, he said.“Quite frankly, that is what ultimately put us where we are today,” he said. “Insurance built the restaurant and did it so beautifully, as far as the facility, but we were left with no money. Essentially, we opened with no operating capital at all and began borrowing.
“We had to borrow to get open and stay open for the first couple of years, and because of the amount we borrowed and how leveraged we were, once the recession kicked in this summer, you know, that was it.”
When the recession began, McIntyre said he began looking for an investor and even buyers to help see the restaurant through, but to no avail.
However, he’s not ready to give up.
He said he is still looking for investors and his goal is to reopen the Iris Grill in a new Issaquah location within the year, as he is not selling his naming rights. The restaurant’s Web site will remain online so that anyone interested can contact him, he said.
Reach Reporter Chantelle Lusebrink at 392-6434, ext. 241, or clusebrink@isspress.com. Comment on this story at www.issaquahpress.com.
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