UPDATE: Owner of The Cereal Box reverses course; says he does NO - WDRB 41 Louisville News

UPDATE: Owner of The Cereal Box reverses course; says he does NOT plan to sell business

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LOUISVILLE, Ky. (WDRB) -- The owner of "The Cereal Box," a Baxter Avenue restaurant that opened less than a month ago, announced his intention to sell the business on Thursday, but says he changed his mind on Friday.

The Cereal Box held its grand opening at 612 Baxter Avenue on Saturday, July 15. The store, which offers cereal for breakfast lunch and dinner, is open seven days a week and offers 20 different kinds of cereal, Customers are encouraged to mix and match cereals, add toppings and different flavored milks.

But on Thursday, an announcement was posted on the business's Facebook page indicating that owner Eric Richardson is already looking to sell the business.

"As the owner of The Cereal Box, I have kept my true intentions of this wonderful business under wraps throughout the entire process," the statement read. "Because of another venture I have in the fitness world, my original goal was to raffle the business at a low cost and give someone an opportunity to own a business who otherwise might not have a chance to. Unfortunately, the gaming laws in Kentucky do not allow me to do that."

"So now I am going [to] make it available for purchase to someone who wants to grow the concept," the announcement continued. "I don't have to sell, so I will be thorough in the selection process. I own the building, so I would offer an attractive lease, as well as stay on in a certain capacity to make sure everything transitions smooth. I eventually will come back on as the franchise owner."

"I am extremely proud of this business and the reaction to it has been enormous. Google has named it the most googled, local spot in the city. The crowds and responses to the creations in store have been nothing short of extraordinary, and I can't think everyone enough."

But on Friday afternoon, Richardson said he'd changed his mind, stating that his prior announcement, "created a lot of confusion and some negative attention."

"That was not my intention," the new statement read. "As a result, I have decided this avenue is not the best route to go and I will continue to own and operate The Cereal Box. I will accept any offers and proposals for potential franchisees or investors as I have received much interest from people. I apologize for the quick change but I do want anyone to think The Cereal Box was going anywhere. It's here to stay and grow in Louisville. Thank you for all of your support!"

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