Twin Rivers closed as owners weigh options

jmarks@lakewyliepilot.comJanuary 13, 2014 

— Twin Rivers may re-open with a fresh look, or never again. The owners are milling through options for the restaurant on S.C. 557.

“We’re open to all options,” said Breck Fabish, one of three partners who opened Twin Rivers in late summer at the former River Rat building. “At this point, we’re going to step back and do a little remodeling.”

Twin Rivers closed just after the new year, with a posted sign on the building and voicemail recording stating it was closed for remodeling and restructuring. Fabish said feedback from customers showed a need for a different look and other changes in the restaurant’s operation. A sign went up Wednesday stating the property is available.

Fabish said his group’s interests could be sold, or another option could present itself. A re-opening is still possible, he said.

“We may reorganize or we might sell out entirely, or we may sublease,” Fabish said.

He didn’t give a time table for a decision. He did say one would be made “definitely in the immediate term.” Fabish said there has been interest in the site since it opened, and he expects that to continue as the partners plan their next move.

As for gift certificates purchased during the holidays, Fabish said owners will determine what’s happening with the restaurant before deciding how to honor them.

“It’ll depend on the option,” he said.

Gray Family Properties owns the 7 acres where Twin Rivers sits. The Gastonia, N.C., leasing company purchased the site in 2012 for $800,000. It belonged to TD Bank from May 2011 until that sale. Bill Gray said his company leases the site to the Twin Rivers partners, but didn’t have more information than what was on the sign and recording.

“You know more about it than I do,” Gray said.

David Tschirhart with Legacy Real Estate Advisors said Thursday he’d received five calls since putting up the sign, which was “shocking” compared to other restaurant transitions. The “game plan,” he said, is for the Twin Rivers partners either to sublease or to sell their lease but that property ownership isn’t impacted. The partners are up-to-date on payments, he said.

“We’ll get something in there,” Tschirhart said. “It’s just a matter of when.”

Strong initial interest is a reason for optimism, he said, as is the area growing up around Twin Rivers with numerous restaurants popping up the last couple of years. In its early days, River Rat was one of the few area mainstays. Now the community supports a variety of places to eat, Tschirhart said.

“You’d figure it would be easier to have a successful restaurant now,” he said.

John Marks •  803-831-8166

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