EPE posted a "rumor Buster" on the status of the former Elvis Presley's Memphis restaurant:
On numerous Elvis fan sites and messageboards today, information, much of it incorrect, was posted regarding the status of Elvis Presley Enterprises’ (EPE’s) efforts to find a new tenant for the building that formerly housed its Elvis Presley’s Memphis restaurant on Beale Street. Here is the straight story with some background for those who might not be aware of the history:
The building is the former home of the historic Lansky Brothers’ men’s clothing store, which Elvis frequented. EPE leased the property from the Lanskys, remodeled it, and operated Elvis Presley’s Memphis restaurant there from 1997 to 2003. Although the restaurant closed, EPE’s long-term lease with the Lanskys remains in effect.
Since 2003, EPE has been pursuing a sub-lease arrangement by communicating with various highly regarded restauranteurs who might be interested in opening a new restaurant and live entertainment venue there. EPE has kept open the possibility of also forming a partnership/licensee relationship with a new tenant and being involved to some degree with the new venture. EPE is very optimistic that a new tenant will be confirmed soon. The name of the new restaurant, any changes in the interior/exterior design of the facility, and whether the new venture will maintain some thematic tie to the Elvis legacy all remain to be determined as discussions with a potential new tenant continue.
If all goes as hoped, a new restaurant could be open by late Spring 2006. EPE looks forward to sharing further information when a new tenant is confirmed and details are finalized.
Fan site and messageboard reports of plans for an opening celebration are pure fabrication or speculation by those making such posts. Actually, how the opening of a new venture might be celebrated has not even been discussed yet.