THAT’S BUSINESS

Montego Cafe a big step closer to reality on Main Street

— Brad McCray is ready to rock and roll and open his Montego Cafe by Thanksgiving.

Or you might say he’s ready to reggae when he opens the restaurant at 315 Main St. in Little Rock.

It’ll be the second restaurant and nightclub at that location in a little more than a year, since Scott Reed sank millions into an old warehouse.

Porter’s Jazz Cafe, of course, had a rough go of it, from the opening note a year ago to early this month when the doors closed. In a nutshell, it was lack of cash. Come to think of it, a nutshell might’ve held the cash it took in. And cash is what Reed needs as he plans to build out the K Lofts above the groundlevel restaurant and music venue below that.

Reed and two others have bought four long-vacant buildings two blocks south, which will become Main Street Lofts. But it will be some time till money from that mixed-use project starts rolling in.

McCray, meantime, is thinking near-term.

“We’ll be planning out our menu over the next 45 to 60 days. It’s going to be a Caribbean-inspired menu” including jerk chicken, grilled tilapia, Jamaican meat pies and fried plantain, which is in the banana family, McCray said.

There’ll be music downstairs three or four nights a week, and maybe even a little steel drum and acoustic guitar at lunch on Fridays, he says.

While reggae will be the mainstay, “We’re definitely not going to paint ourselves into a corner where we can’t explore other options or bring in other local artists. There may be some times when we have some of the artists that Porter’s had in there.”

He said he has heard from some of Porter’s patrons, who “were sad to see it close [and] are excited to see that the page will be turned quickly.”

McCray’s liquor application was approved Wednesday by the state Alcoholic Beverage Control Board, pending routine matters.

That’s a given for a restaurant and nightclub, but it was a requirement imposed by Reed before he and McCray sign any agreements. As reported here, McCray had some problems with Alcoholic Beverage Control when he operated On the Rocks downtown a few years ago.

Reed said, “We’re looking forward to finalizing the lease and getting him open.”

The Downtown Little Rock Partnership has held two of four planned Thursday serenades, if you will, from after work until dark. The events feature rock bands and feeds from 103.7 The Buzz, The Point 94.1 and Heartbeat 106.7 at the corner of Main Street and Capitol Avenue, in the heart of the downtown revitalization.

Those sounds may be replaced before long with the happy music of steel drums.

Cato Corp., which had nearly 1,300 budget stores primarily across the South and specializes in girls’ and women’s clothing, is one year into the rollout of its new store brand, Versona.

The most recent store opened Thursday in Midtowne Little Rock. Cato Chief Executive and Board Chairman John Cato was on hand.

The Little Rock store is the 20th since the first Versona opened Sept. 29, 2011, said Regional Vice President Tami Harlow, who was also there for the debut.

The company plans to open 20 to 25 Versona stores per year “indefinitely,” Harlow said.

In line with Charlotte, N.C.-based Cato’s business model since the company was founded in 1946, the accessories, handbags and shoes at Versona won’t be budget breakers. They range from $5 to $60, Harlow said.

The company’s conservative approach — it carries virtually no debt — has allowed it to survive the most recent recession and even benefit from it, Harlow said. During the depths of the recession, Cato stores picked up customers from higher-priced stores such as Nordstrom and Dillard’s, she said.

Harlow said she is “very familiar” with Charming Charlie, a Houston-based chain that has a store in the Promenade at Chenal. But while the competitor mostly aims at the young shopper, Versona will appeal to a broader demographic, she said.

“We studied them quite a bit before we rolled out our concept. I wouldn’t say we’re influenced by them. The Cato Corp. has been looking to launch a new division for several years and we were looking for the right niche.”

Cato shares closed Friday at $30.20 on the Nasdaq stock exchange. Stock prices have ranged from $21.51 to $32.32 over the past 52 weeks.

If you have a tip, call Jack Weatherly at (501) 378-3518 or e-mail him at

[email protected]

Business, Pages 69 on 09/23/2012

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