SAGINAW (WJRT) (8/13/2019) - Two businesses that played a part in revitalizing downtown Saginaw area are closing abruptly.
Bancroft Wine & Martini Bar and Bourbon & Co. both closed abruptly, dealing a blow to downtown Saginaw revitalization efforts.
Bancroft Wine & Martini Bar and the adjacent Bourbon & Co. closed on Tuesday with little warning. Both were located in the Bancroft Luxury Apartment building at the corner of Genesee and Washington avenues.
Ryan Seifferlein owned both entities. A social media post announced the closings, saying in part, "At this juncture, I cannot reveal the circumstances that precipitated this crisis."
Tamara Grefe, executive director of the Saginaw Choral Society at the nearby Temple Theatre, is shocked and heartbroken to lose the businesses. She said the loss is a setback for the area.
"The Bancroft and the Bourbon were a hub for entertainment before and after events for the Saginaw Choral Society," Grefe said.
City records indicate the building is now owned by Roco Bancroft LLC, but nobody from the corporation could be reached for comment.
The renovation of the apartment building in 2013 and more recent development projects, including the SVRC Marketplace and the new Delta College campus, have brought new life to downtown Saginaw.
The two bars were part of that, but Bridget Staffileno of Jolt Credit Union said the closings are disappointing.
"We are trying this whole revitlatization in downtown Saginaw and now it's closed and we have a void," she said.
Bancroft Wine & Martini bar opened in 2014, and Bourbon & Co. opened in 2017. Dawn Goodrow, who owns a nearby business, is upset that two businesses are shutting down.
"For the community, for the growth of the downtown and just all of the efforts that everyone has put into the area, it's really sad," she said.