Kindel Lanes facing foreclosure unless investors come to rescue
By Sid Riley
August 12 is “D” day for Kindel Lanes after thirty years of successful operation in Jackson County. On that date the business will be up for foreclosure sale on the courthouse steps, a day which owner Jeff Kindelspire has been fighting against for many, many hard months.
The crux of the story is that the business was in the middle of an ambitious expansion into a full amusement center complex which would have attracted business from all surrounding counties, when the financial crash struck. Their timing could not have been worse. They were left with a 60% finished project, no available financing for completion, and a heavy debt service which depended on completion of the project for the needed cash flow.
The core of the business, the bowling center, has always been profitable. It remains profitable, still generating the needed business activity for success…but unable to carry the extra fixed overhead cost burden created by the unfinished amusement center. About 500 children and teens enjoy the center each week. Had the economy remained robust, had the banking systems remained accessible, had investor speculation remained positive and active….Jeff would have succeeded with no problem.
This is one of the core businesses of our community. It has always created a family oriented, Christian, humanitarian environment for our children and our families to enjoy. They have always provided steady employment for around forty citizens, and have been a safe haven for parents to allow their children to enjoy. They have always helped programs for the handicapped at Sunland, have always had some of these disadvantaged working in the facility…thus demonstrating a benevolent, caring philosophy. Without Kindel lanes in our community, we will certainly be worsened.
Our children will have no place to gather socially for wholesome, supervised activities. They will be relegated to clustering in vacant parking lots, or building bonfires in remote farm fields where their activities will be uncontrolled.
Jeff Kindelspire has never been one to give up. He is still hoping an investor partner will appear to save the day for the business before the vultures swoop down from their lofty perches to consume the business. “A participant would get a much better deal before the sale than they will be able to get after the foreclosure, where they will have to deal with the creditors,” Kindelspire states.
It appears that around $400,000 is needed to save the $2,500,000 investment. That would complete the amusement center and inside facilities in the new addition. Another $250,000 would be needed to also complete the go-cart portion, but that can be deferred.
It seems bewildering to see $1,000,000 being spent by our government on sidewalks which will provide little social benefit and no permanent employment, while small businesses such as Kindel Lanes suffer and perhaps close due to the unavailability of financing. And this financing would eventually be paid back from continuing operations. The completed center would employ around 80 people, provide a real attraction for our community, and a safe haven for our children to enjoy. As Spock of Star Trek would say, “It’s Illogical”.
If a savior is out there anywhere……Jeff Kindelspire can be reached at 526-4492 or firstname.lastname@example.org.