Corktown Restaurant Gold Cash Gold Set To Close

The last meals will be served Feb. 2.

WWJ News
January 13, 2020 - 5:42 pm
Gold Cash Gold

Photo: Jon Hewett / WWJ

DETROIT (WWJ) -- The owners of a popular Corktown restaurant say they're closing up shop the first weekend in February, citing increasing competition in the booming neighborhood as one of the reasons.

Gold Cash Gold, at the site of a former pawn shop on Michigan Avenue near Wabash, will serve its last meals on Feb. 2 after five years of business in Corktown.

Business has been slow, as a number of new restaurants have saturated the market in the neighborhood. Victoria Dombrowski of Rochester Hills, a repeat customer, called the news disappointing and says she is surprised that business has been slow.

"I’m really surprised. I thought they would do very well. With the crowd and the changes down here in Corktown, I thought it would fit in nicely with the demographics, but apparently not," Dombrowski told WWJ's Jon Hewett. "I had a great meal and great service, and I know there’s good traffic down here, so I don’t understand what the problem is."

The owners say they plan on selling the restaurant business, but intend on retaining ownership of the building. 

In addition to increased competition, co-owner Phillip Cooley says the lives of the people involved with ownership have changed in recent years, according to a story from The Detroit News.

The owners of Gold Cash Gold have reportedly already been approached by potential replacements for the restaurant.

Dinner is served Tuesday through Sunday, with brunch on Saturday and Sunday.