When the Cody City Council recently approved a retail liquor license transfer, it cleared the way for David Peterson Jr. to buy the Proud Cut restaurant and bar in downtown Cody from longtime owner Becky Nose.
The action on Tuesday transfers the license from The Proud Cut Saloon Inc. at 1227 Sheridan to Peterson’s Wyoming Restaurants Inc., doing business as Proud Cut Saloon at the same address. The license, however, will not be issued until the city receives confirmation the property has sold.
Nose said Thursday the sale is not yet final.
Cindy Baker, city clerk, said in such cases, usually the owner and buyer don’t want to finalize the sale transaction until they know the liquor license can be transferred.
Baker said she’d received no comments in advance of Tuesday’s required public hearing, and no one attending the council meeting spoke for or against the action.
Peterson intends to keep operating the business as a western-style steakhouse and saloon open seven days per week. He plans to retain Proud Cut’s 30-plus staff and continue to partner with the Northwest College Rodeo team.
“There’s a reason Proud Cut’s been around for 35 years, and we want to continue that tradition for another 35 years without changing the experience,” he said.
Originally from Maryland, Peterson found his way to Cody while traveling across the U.S. by recreational vehicle.
“Upon arriving in Cody, I fell in love with its beauty and its people and I have been here ever since,” he said.
Certified by the National Restaurant Association as a Servsafe food manager, Peterson worked several part-time food industry jobs during his time in high school and college. After earning his degree, he began a career in technology, accumulating more than 20 years of multimillion-dollar management and startup experience.
With the sale, Nose will end more than 35 years as Proud Cut Saloon and Steakhouse owner.
According to agenda documents, she is to spend nearly five months – two presale and three post-sale – training Peterson on the intricacies of running the business.