One of the highest-profile sites in Winnipeg is going to sit dark for a while longer.
The former home of Papa George’s restaurant, which has been empty since the popular late-night eatery closed in October after 35 years, was close to having a new tenant but negotiations have broken off between the real estate broker and a "large international restaurant chain."
"I’m disappointed. I felt they wanted too much. We had done quite a bit of work on the premises," said Graeme Rowswell, head of G. T. Rowswell Realty Leasing Co.
Chief among his concerns is the financial responsibility of any future tenants.
"Sixty per cent of restaurants fail within the first two years," he said.
Rowswell wouldn’t name the company with which the negotiations broke down but rumours last fall were that Tim Hortons and McDonald’s were kicking the tires.
"Whoever is going to go in there is going to have to have some deep pockets," he said.