BUSINESSES IN THE NEWS
WEBSTER - Speculation about the future of the Colonial Restaurant on Thompson Road has been answered: it will continue to be a restaurant. The restaurant, founded by Eudore "Ted" Morse in the 1940's and operated by the family ever since, was purchased Monday by Great Bay LLC, an operating company of Galaxy Development.
Galaxy principal Michael O'Brien said that he plans to do some work on the building and grounds, including exterior and interior painting, and landscaping.
There had been local speculation that the prospective buyer would raze the building, which sits on three acres, and develop the property. "We never had an intention to knock it down," O'Brien said. "Our plan is to lease it out to a good quality restaurateur. We are in the real estate business, not the restaurant business."
O'Brien said that he has seven qualified restaurant operators interested in looking at the property. "It's exciting what it can be, with fresh ideas and a new menu."