Pub passes sustainability test to remain open
After years of existing on shaky finances, Willy's Pub successfully evaded closure on May 7 and will continue serving students for the coming year, according to Willy's Pub General Manager Helene Dick.
"This past fall, the Student Center officially decided it could no longer afford to sustain further debt from Willy's Pub," Dick, a Martel College junior, said. "This debt that currently amounts to about $28,000 began growing consistently in 2005, [when] ... the Student Center opted to help Pub by covering ... the cost of its federal work study subsidy and the Student Center administrative fee."
Last fall, in response to the Ley Student Center's decision, V & W Permits, Inc., the organization that holds the liquor license for both Valhalla and Willy's Pub, gave Pub until May 7, 2013 to demonstrate financial sustainability or face closure, Dick said.
Dick said that because historically, Pub could never afford to survive without subsidies, numerous changes were made to Pub's business plan to increase revenue to allow Pub to begin paying that fall to prevent the debt from enlarging.
"We had always been subsidized, one way or another," Dick said. "Our goal is to encourage safe drinking and to provide an on-campus place to drink to prevent drinking and driving. Pub is supposed to be a sustainable system, not a sustainable business."
On May 7, V & W reviewed Pub's financial stability and passed the student-run business.
"While far from perfect, we made it," Dick said in an email to Pub employees. "We're paying the costs. For this spring, we're in the black. Knock on wood - but we hit the benchmark, and that's pretty damn awesome."
Dick said the past year has been Pub's best yet for revenue since 1999, when records began.
"We're really proud of what we accomplished," Dick said. "We're still poor, and the fight is far from over. But we get to keep selling beer, and if we work hard, the Bud Light's going to be flowing for a while."
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