News and Tribune

Floyd County

February 13, 2007

New Albany's South Side Inn for sale

The owner and operator of South Side Inn’s cafeteria restaurant business is trying to unload it for $75,000, less than half what he paid to acquire it in July.

Because the restaurant hasn’t done enough business to earn Joe Peevor a long-term visa, the Briton and his wife Angela Hawley are just trying to recoup the equivalent of one month’s income, he said. Hawley, whose father is American, is applying for citizenship, Peevor added.

A sign advertising the sale was placed on the building Saturday, and Peevor said he had several inquiries Monday morning. Only the restaurant and its equipment are for sale, not the building, which Peevor does not own.

“We have to sell it as quick as we can,” said Peevor, who did not specify his plans.

The couple’s investment totaled about $240,000, including renovations and the original purchase price of about $160,000.

Peevor lamented “the vicious circle” of liquor license laws, saying he could have done enough business to earn a visa if he’d had a license, but he couldn’t get a license without a visa.

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