Nov. 18--A landmark restaurant, bar and banquet facility in Newport Township has closed as the sluggish economy and heightened competition led to a drop in customers.

The Centre Inn was forced to shut down Friday, but owner Tony Argento said negotiations are ongoing to sell the business to a New Jersey corporation.

Argento began to see a decline in business about four years ago.

"Business got bad with the economy, and all the restaurants that opened by the arena (in Wilkes-Barre Township) hurt," said Argento, who owned the Centre Inn for the last 21 years.

Argento filed for Chapter 11 reorganization bankruptcy in December 2007. It was changed in October to Chapter 7, a liquidation bankruptcy in which a filer sells his assets to pay creditors.

A United States trustee, with administrative responsibilities in bankruptcy cases, closed the Old Newport Street business on Friday.

The Centre Inn was a popular place for fine dining and brunch on the weekends. With two large banquet rooms, it hosted many wedding receptions along with graduation and holiday parties.

Since some events are already booked, Argento said he hopes a new owner will reopen the business soon.

"I feel bad about my customers," Argento said. "We have events booked up for the holidays and I'm hoping this won't have any effect on them. Hopefully, they won't have to change their plans. I don't know what's going to happen."

Argento employed family members and about 10 part-time employees who are now out of work.

"Business wasn't good anymore," Argento said. "It's not just affecting me. Many people can't afford to go out to eat. Before, our customers might have come once a week. Then, it became once every other week or once every three weeks."

The widespread economic difficulties have not only hurt the Centre Inn, but other Nanticoke area restaurant owners also have seen a recent decline in profits since eating out has become a luxury.

Eli Panagakos, owner of the Bus Stop Cafe on East Broad Street in Nanticoke, said his business has slowed during the tough economy. He has not raised his prices and is taking a loss, he said.

"People can only stretch the dollar so far," Panagakos said. "People aren't making more money and everything is going up."

Larry Karnes, owner of Larry's Pizza on East Church Street in Nanticoke, said people have been purchasing smaller orders.

"It's tough all over," Karnes said.

Alex Graham, manager of Madison Vodka Bar & Steakhouse, which opened in August on East Washington Street in Nanticoke, agrees that many people can't afford to go out to eat.

"Business is not as great as we would want it to be, but it's OK," Graham said.

dallabaugh@citizensvoice.com, 570-821-2115

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