Georgetown's The Brick Hotel emerges from financial workout
The Brick Hotel, an upscale inn, restaurant and gathering place in the heart of Sussex County, has announced that it has successfully resolved financial issues created by the recent recession and is anticipating an active and successful 2014. Said owner Lynn Lester, “I was never happier to see a year end than 2013, or more thrilled about a fresh start in 2014. Both our regular customers and those folks looking to plan events can be confident that The Brick isn’t going anywhere.”
“The Brick,” as it is known to locals, is a circa 1836 building that sits on The Circle in the center of Georgetown and saw many earlier uses as an inn and tavern, bank, law offices, coffee shop, and more. In 2005, it was acquired by Lynn and Ed Lester, a local couple with plans to provide dining, lodging and gathering services not found in Georgetown. Financing was provided by Wilmington Trust Co., now owned by M&T Bank.
As was the case with many projects that commenced immediately before the Great Recession, The Brick faced cash flow difficulties and the bank’s collection efforts. Lynn Lester summarized the current status by saying, “We have reached an agreement with our former lender; we have a new lender and now have very manageable debt. It’s fun to spend our planning time thinking about making The Brick better rather than wrestling with bankers and lawyers. Let me put it this way - I am hoping there is a renewed confidence in us and that we’ll be hearing from brides-to-be and others making advance plans for events in Sussex County.”
The Lesters are planning a casual invitation-only celebration toward the end of this month. Lynn Lester said, “The last couple years weren’t fun, but we came to know how much The Brick means to Georgetown and Sussex County. So many folks - strangers as well as old friends - have been so supportive; it’s just wonderful.”