LYNN – Two potential new owners are interested in purchasing the former Downtown Bistro and Wine Bar on Oxford Street.Owner John Moore closed the swank eatery on Aug. 23 due to a lack of repeat business and local interest.Since then, he said several people have approached him about purchasing the restaurant to create a more casual, American pub-style atmosphere with lower price points.In lieu of the posh dishes of sea bass and sweet-and-sour short ribs that Moore and his kitchen crew used to whip up, the potential owners would reportedly switch to more of a pub grub-style menu, with sandwiches and hamburgers, if the deal goes through.Vague in details, Moore said the two separate potential buyers are located on the North Shore, and both expressed interest in opening the restaurant earlier than the former 5 p.m. start time. They also both expressed interest in being open for sporting events.”It would definitely be lower cost (for customers), but it won’t be a chain restaurant,” he said. “I’m going to try and finalize the deal by Oct. 1.”Moore said he is asking $175,000 for the business, which includes a $150,000 loan from the Economic Development & Industrial Corporation (EDIC) that he received to jumpstart the eatery last year, and minimal costs for various kitchen equipment.”I paid $250,000, plus I put money into the place, so I’m not asking much,” he said. “I’m still paying rent there now, so it’s getting costly. But the place is immaculate and it’s in better shape then when I found it, so people would be crazy not to lease it.”Moore said the former restaurant pulled in a reported $12,000 a week, but it still wasn’t enough to keep it afloat.The owner of The Navy Yard Bistro in Charlestown, Moore said he would have definitely kept the Oxford Street business open if it was his only venture.”I would almost take less (of an offer) for the restaurant if I knew the owner had a better potential of surviving in the space,” he said. “I think a pub-style restaurant would definitely work in Lynn, but that’s not what I do personally. I offer bistro dishes.”A major gripe amongst city residents was the price point of Moore’s dishes, which ranged from $16-$22 on average.Fixed specials were often offered for $12-$14, but Moore said that still wasn’t enough to bring in local customers to dine.”I wouldn’t really say the business failed, but I didn’t think it was worth it personally to have a second location,” he said.
