Despite an impending sale and a temporary closure, neither Pallookaville Fine Foods nor colorful owner Jim Stacy are going anyplace. This according to Stacy who recently bought one of Avondale Estates’ original 10 homes in the historic district.

Pallookaville closed Sunday and Stacy insists it will reopen March 1, despite rumors proclaiming it’ll be shuttered much longer. Part of the hiatus is for sprucing up the dining area and renovating the kitchen. But Stacy is also “re-structuring the corporation,” and may have news about a sale in two weeks.

He added the restaurant’s name and essential style won’t change.

“The plan was always to sell it once it became established,” Stacy said Thursday. “No matter who buys it, I’ll be involved in some capacity.”

The closure, however, comes during a bleak period for downtown Avondale. In recent months downtown businesses Ray’s Indian Originals and The Bishop restaurant both closed permanently. Euramex Management, which has owned 15 undeveloped downtown acres for over a year, has yet to publically reveal any development plans.

“Avondale has a ton of potential,” Stacy said, “and I plan on staying here a long time.”