EXETER — The future of Exeter’s shuttered Loaf and Ladle restaurant building is looking brighter after a deal was reached on the possible sale of the downtown landmark.
Details of the agreement have not been disclosed.
The first hint of a potential deal came when a note was recently posted on the for sale sign outside the restaurant at 9 Water St. indicating that the restaurant was under agreement.
Owner Meredith Stolper declined to comment on any deal Monday morning.
The building is being sold through local Realtor Milbury Associates Inc.
The restaurant shut its doors downtown in early October during what Stolper called a “temporary closure.”
The restaurant and bakery known for homemade breads and soups was started by Joan Harlow in the early 1970s. Stolper bought the business in 1986 and operated it until last month. She has faced financial struggles in recent years and filed for Chapter 13 bankruptcy in April. The financial problems were made worse by floods that hit the building in early 2010 and caused significant losses.
The bakery has now moved to the Loaf and Ladle Pantry, located inside the Bauer Hockey building at 100 Domain Drive in Exeter. The Loaf and Ladle Pantry sells breads and soups once offered at the downtown Exeter location.
Michael Schidlovsky, president of the Exeter Area Chamber of Commerce, said he’s not surprised that the downtown building attracted interest so soon after it went on the market.
“It’s in an excellent location and an important piece of the historic nature of the town. It’s in a very prominent location, and it sounds to me like it’s going to bounce back very quickly. From my perspective, anytime we can fill a retail spot with a viable business then I’m very pleased,” he said.