Dispatch wrote The downfall, [Gibson] said, was the decision to build in the Polaris Fashion Place area.Gibson and his new partners had been “looking at a Polaris location next to the Rave movie theater,†and with the traffic in the area, “sales projections were high.†They got going at Polaris, he said, “and financially we were a little behind the eight ball. But we got so far into it.â€Â
Sales projections, he said, were far too high. The restaurant never came within 40 percent of the expected profit. Gibson thought the restaurant was ahead of its time and, given another six months or a year, would pan out.
But neither the landlord at 1081 Gemini Place nor the new partners were having any of it. Gibson gutted his own bank account and went without salary for a time, with hopes of outlasting the slow start.
“Investors didn't quite come through, and sales didn't come through as we needed them to be,†Gibson said, “and the downfall kept eating away at us in the Arena District.â€Â
The fact that the Arena District store was closed for three days in November by the Columbus Board of Health for 12 violations of food-handling rules didn't help.
In the end, which came a few weeks ago, Gibson had to close the Polaris and Arena District restaurants. He is left with only a small stake in the New Albany store and a job, thanks to a friend, in the automotive aftermarket business.
http://dispatch.com/live/content/business/stories/2008/01/15/gibbys.html?sid=101