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March 10, 2017

Hotelier buys Lincolnville's iconic Lobster Pound in auction

The Lobster Pound, which closed after last season, has new owners.

The Bangor Daily News reports that Danny and Carla Lafayette, whose Lafayette Hotels group owns the Holiday Inn by the Bay and Fireside Inns & Suites in Maine, agreed to pay $700,000 for the restaurant, which has been prominent stop for visitors on Route 1 in Lincolnville. The foreclosure auction was held Thursday.

Danny Lafayette told the BDN the decision to purchase the business was "probably 75% sentimental and 25% business."

The previous owner, Dick McLaughlin, closed the restaurant last fall and filed for Chapter 7 bankruptcy. McLaughlin said at the time that business after the recession did not keep pace with the cost of running a waterfront property, including increased insurance rates. He also cited the pending minimum wage increase.

Lafayette Hotels' portfolio also includes the Senator Inn & Spa in Augusta.

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