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Former Ryans restaurant up for auction
Ryans pic 1
The former Ryans building has sat empty for more than a year as the chains parent company was entangled in bankruptcy proceedings. - photo by Allie Dean

The former Ryan's restaurant located on Ga. 400 will face the auction block in August, according to a press release last week from the Development Authority of Dawson County.

The authority released information July 7 about the sale of the land and building.

The local Ryan's closed abruptly in March 2016 when the chain's parent company filed for bankruptcy. Ovation Brands owned Old Country Buffet, Fire Mountain and other restaurants in addition to Ryan's.

According to the release, the lender owned auction is being conducted by American Management Corporation (AMC) on behalf of the lender.

"We continued to try to communicate with Ovation and then their bankruptcy counsel when developers expressed interest in the closed building," said Charlie Auvermann, executive director of the development authority. "We were told every time to wait until the courts ruled on the filing."

AMC will hold the online auction Wednesday, August 9 at 1 p.m. The building will be open for inspection on July 31 and on August 7. The inspection time is 11 a.m. both days.

Auvermann said that the authority is working with AMC on informational and demographic packages in the run up to the auction.

"We are extremely glad to see this site now moving forward," he said. "The location is a prime site at a major intersection. The latest Georgia Department of Transportation work has not impacted access to Ryan's so it is an excellent business opportunity."

The building is listed at 10,972 sq. ft. sitting on 2.3 acres.

Auvermann also said that several parties have expressed interest in the building.