Ye Olde Alpha Sold at Auction
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WHEELING -- Ye Olde Alpha owner Charles Schlegel says the popular bar and eatery will continue to do business, whether it remains at its current location or moves to another.
The building and property which house Ye Olde Alpha were purchased by Wheeling Coin LLC and its president, businessman and restaurant owner Anthony "Herk" Sparachane, in an auction Thursday morning.
The purchase price was $380,000, and Schlegel will continue to own the name "Ye Olde Alpha" and the established operations of the restaurant.
Schlegel had co-owned the property with his former business partner in the restaurant, Mark Thomas, under the name Grexican LLC. Money from the sale will go toward ending the partnership and paying off the loans on the building, according to Schlegel.
He said he plans to meet with Sparachane today to discuss plans for the future of Ye Olde Alpha, and whether it will remain at its current location.
"The Alpha is definitely still in business, and will be whether it is here or somewhere else," Schlegel said. He indicated reports of the restaurant's closing on social media have alarmed employees.
"It's amazing what people have said," Schlegel said. "But there are real people working here relying on this job for employment.
"Whatever is happening, it doesn't stop The Alpha from being a great place to grab some great food."
Behm Auction Service conducted the auction on Thursday. The building was described as consisting of 7,563 square feet on the first floor and 575 square feet on the second floor. The property also includes 32 parking spots around the perimeter of the property, and a paved parking lot on the side.
Messages left for Sparachane at this businesses and his home on Thursday were not immediately returned.