By Clyde Noel
Los Altos Arts & Wine Festival visitors looking for a watering hole to sit and quench their dying thirst won’t be able to relax at the Main Street Bar & Grill. It’s been closed nine weeks because of bankruptcy action.
“Technically, I’m still the owner till July 10,” said Loren Masters. “We have numerous people looking at the space, including several national organizations.”
Masters claimed that court proceedings were delayed because of her former business partner Steven Holloway’s insistence of a first refusal.
Bankruptcy court is scheduled today to determine the new owners. According to Masters, the company with the best offer and the largest certified check will become the new owners of the Main Street Bar & Grill.
Masters filed a personal Chapter 13 bankruptcy in April because the fixed expenses were higher than the business could carry. She closed the restaurant in May.
The restaurant has had numerous owners since it opened in the 1960s and has been in bankruptcy action before with prior owners.
Masters purchased the former Los Altos Bar & Grill in November 2000 without having any prior restaurant experience, but felt that owning a restaurant-cafe where people can have a good time and enjoy good food was the type of business to own.
“Learning how to do business in a hands-on mode is difficult,” Masters said. “And Los Altos is not a place to open a restaurant business. Anyone who says they are doing well is lying.”
Julie Rose, executive director of the Chamber of Commerce, refuted that claim. “I think it’s a safe thing to say a good restaurant in Los Altos can be successful - that’s been proven by Maltby’s and Akane,” she said.
The restaurant was known as the Los Altos Bar & Grill for years; but in January, Masters changed the name to Main Street Bar & Grill hoping to create new interest and bring in more business.
She made numerous changes and pumped in big money to make the place a neighborhood rendezvous for lunch and dinner. Business after Sept. 11 went down and it never recovered.
Masters referred to Mountain View business activity and how lively Palo Alto is. She can’t understand why the Los Altos City Council and Los Altos Chamber of Commerce doesn’t do more to bring in business. She said the only draw the town has are hair stylists and nail operators.
Rose said the Chamber does do a lot for local businesses, and in fact, helped the new Bar & Grill owner by holding a mixer, offering referrals and providing exposure with a grand opening event.
