In 2016, KREM reported that summer 2016 could be the last for the iconic Leonard Paul Store along the shores of Lake Priest. The owners of the store said their debt – combined with the loss of business during wildfire season – could force them into bankruptcy.
COOLIN, Idaho – Iconic Priest Lake store is closing after more than 100 years in business.
In 2016, KREM reported that summer 2016 could be the last for the Leonard Paul store along the shores of Lake Priest. The owners of the store said their debt – combined with the loss of business during wildfire season – could force them into bankruptcy. They lost about $ 165,000 in sales.
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An individual showed up and offered the owners short-term financing. They did not reveal the identity of this person.
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Pat Akins has owned the store with his wife Teri for 10 years. Its namesake, Leonard Paul, opened the original store across the street and then built the current building in 1926. Since then, the store has been a favorite haunt for locals and tourists alike for snacks, alcoholic drinks and gifts. There is also a grocery store there.
The Leonard Paul store in Coolin, Idaho, will close Thursday, October 11 at 6 p.m.
“We spent the last year trying to sell the business and pay off our debts, but it didn’t work for us,” the store owners wrote on Facebook.
The store will be auctioned off by the Lender in Sandpoint on Friday, October 12.
A three-day clearance sale will begin on Thursday and will include only retail products. Buyers can purchase items for 50 to 70 percent of their original price.
Pat and Teri Atkins posted this message on the store’s Facebook page:
“We would like to thank all of you who have supported us over the past 14 years! We have made many friendships that we will cherish. Teri and I will return to Spokane to be closer to family and especially many small children [sic] that we miss. We will also be looking for a job. This should be done by the end of October. If you want to contact us about this, the best way is firstname.lastname@example.org. We’ll be getting out of the store a bit as we’re looking for a rental to move into Spokane. “