Angel Investor Could Give Dino's Its Wings

After 60 years of serving Racine, Dino's could look at serving up another 60 years or more.

Dave Ferderer, grandson of founder Dino Dominici, told Patch Monday that an old friend of Dino's is willing to step forward to help keep the doors of the iconic restaurant open.

"Dino has helped a number of people through the years immigrate from Italy and set up their own businesses," he said. "One of those individuals is potentially willing to step forward to make a deal with the bank to keep the restaurant open."

Ferderer said a meeting this morning laid the groundwork for how a deal might be reached, effectively postponing the auction Tuesday of the restaurant's equipment. Only the items with the Dino's name and/or logo on it would stay with the family.

"We sat down this morning to hammer out the details," he stated.

Patch has left a message with a representative from Tri City National Bank, and we will update this story when we hear from them.

The Badger Auction website lists the auction as "Postponed Until Further Notice."

Just last week, Ferderer and his mom, Rosalie, announced the restaurant would close at the end of business Sunday. The restaurant was in foreclosure, Dino said, after three months of missed mortgage payments from when he had heart surgery.

If the bank is willing to accept the investor's participation in the restaurant, Dino's can stay open, Ferderer added.

But, he knows the family has to take steps to be sure they aren't in this position again. Ferderer said there are plans to hire an outside firm to help with money and business management.

"They will help give us the tools and resources we need to get the business back on track and stay there," he said. "We have to look at how we got here so we can be sure it doesn't happen again."