Coffee at the Point closed temporarily in late July with a note stating they were hoping to return by mid-September. But with a lack of revenue in the past month, owner Ryan Cobbins said the shop needs financial help to reopen.
The Five Points shop launched a GoFundMe page last week with a goal of raising $56,052. So far, they’ve made about $7,300.
“This campaign has been launched to gather the required funds to reopen Coffee at The Point, a staple in a reviving and historically significant area,” the fundraising page reads. “We need $56,052 to cover overdue rent for the previous month (plus the current month), reopen labor expenses, inventory, repair & maintenance, cleaning expenses, and to meet the resumption of vendors.”
Cobbins opened the shop at the Five Points intersection in 2010. Since then, the establishment has won numerous awards and has become a community hub in a rapidly gentrifying neighborhood.
He said a mixture of issues caused the shop to close, including inflation, labor costs and staffing issues. He also mentioned the ongoing legal battle between him, several other businesses along Welton Street and The Flyfisher Group.
In October, the shop will hit its 12th anniversary and Cobbins is hoping the shop can reopen by that time.
According to the GoFundMe page, 8% of individual contributions will be donated to Imagination Library of Denver, a nonprofit organization focused on providing books to children.