Without Investor, Andover Wine Bar Will Be Forced To Close

ANDOVER, MA — The owners of a wine bar and listening space in downtown Andover that opened seven months ago are hoping an investor will save their business. Jenny Schneidewent and Chris Bachmann closed Theory Wine Bar + Listening Room on Main Street earlier this month, and said Thursday the closing will be permanent if they don't find outside help.

"We thought we'd at least have done enough business from late March to early June to sustain us over the sleepy Andover summer, but that was not the case," Schneidewent said Thursday. "After having a heart-to-heart talk with our incredible staff, we decided that, since we could no longer afford to replenish our beverage and food stock, or maintain daily operations, we would close our doors for the rest of the summer."

The Sept. 13 gas explosions in Andover forced Schneidewent Bachmann to delay opening Theory Wine Bar + Listening Room from mid-November to late December. Those two months without revenue coming in depleted Theory's advertising budget but, at the outset, sales were strong. Then Theory was hit with an unexpected and sharp drop in sales in mid-spring. High rents in downtown Andover didn't help., either.

Schneidewent said she and Bachmann have been trying to find an investor that would allow them to tweak the concept, including adding a craft cocktail menu and more food options. So far, she said, the best offer has come from a local restaurateur and investment group that she did not identify.

"They would essentially take over the business, rename and rebrand it and run it as their own," Schneidewent said in an email. "In Theory (pun partially intended), less of a hit for us financially than selling Theory outright, as we invested every penny of our own into it. But it's all still up in the air and nothing is definite."

Dave Copeland covers Andover for Patch and can be reached at dave.copeland@patch.com or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).