Penn Brewing pulls off one of those last minute “victory from the jaws of defeat” things at, well, the last minute.
This is very good, and very unexpected news.
Penn Brewery to stay put under new lease
Saturday, February 28, 2009
By Bob Batz Jr., Pittsburgh Post-GazetteAs it turns out, Penn Brewery isn’t going anywhere, at least for five years.
In a surprise announcement at a news conference today, president and CEO Len Caric said the North Side brewery will remain at its Vinial Street location under a new 5-year lease.
Mr. Caric had said in November that the company decided not to renew its lease after the rent was effectively more than tripled by E&O Partners. E&O later said Penn owes it money for a disputed water bill.
The lease was to expire today. Mr. Caric told employees at a meeting yesterday afternoon the brewery would remain open but didn’t provide details.p>
However, today he said a new lease had been worked out and Penn would remain a fixture on the North Side.
We dodged a bullet, we did, and good on Len Caric and his management team.
Best part of this on a personal level? Now I can stop figuring out what the hell is going on out there and just enjoy the beer. Again.
