Chances of saving Cody’s?
Many people have asked me about this subject over the past couple days because of my involvement in saving Kepler’s. However, there seem to me significant differences in the situations of each store. In the campaign to reopen Kepler’s, the major objectives were to a) raise capital b) renegotiate the store’s lease and c) implement a new business plan. The objective for Cody’s to reopen seems to be a complete revolution of the business climate on Telegraph Avenue where sales for many establishments have dropped off over the past 10 years and the city of Berkeley has done little to revive the area. For Andy Ross or supporters of Cody’s to bear that burden seems like an impossibility.
According to our sources, Ross is not open to the possibility of outside investment in Cody’s to keep the Telegraph store open. (The money raised by outside investors and Clark Kepler’s receptiveness to them allowed Kepler’s to reopen.) He is, however, willing to listen to offers on the space on the corner of Parker and Telegraph, as he has control of its lease.