When we talked with Richard Skorman last spring about the 50th anniversary of Poor Richard’s, he said he was looking to find the right buyer to steward his collection of downtown shops into the future. Now the city’s oldest bookstore, most iconic toy store and one of the Springs’ oldest restaurants are changing hands.
Skorman and Patricia Seator, his business partner and wife, have sold Poor Richard’s to Joe Cole and Sarah Gibeau-Cole, who they describe as “a like-minded local couple who plan to carry forward the spirit, values and quirky charm that have defined the business since 1975.” Many will recognize Joe as the long-time anchor and news director at FOX21 TV.
Passing the Torch
Skorman and Seator didn’t take the decision to sell lightly. After receiving multiple offers, they chose the Coles because of their shared values, deep community roots and commitment to preserving what makes Poor Richard’s special.
“We didn’t want someone who would change the heart of this place,” Skorman said in a press release. “Joe and Sarah understand that Poor Richard’s is more than a business — it’s a community living room. They both plan on working full-time in the businesses, and they each bring complimentary skills to this transition.”
One of the moments that sealed the connection came when the Coles were deeply moved by the hundreds of meals Skorman and Seator provided to federal workers and their families during last fall’s government shutdown. That act of generosity reflected the kind of community-first philosophy they hope to continue.
“We’re here to carry on the legacy, not change it,” the Coles say.
They plan to keep the full staff, calling them the “the heart and soul of the place.” They also plan to maintain the welcoming, community-centered atmosphere that Poor Richard’s has provided for 51 years.
“This is a place to gather, learn, connect and grow,” Sarah says. “We want to honor the people who built it and the people who make it come alive every day.”
Meet the Owners
A Colorado Springs native, Sarah grew up wandering the aisles of Poor Richard’s, buying birthday gifts from the toy store, sharing pizza slices with her kids, and leaving with stacks of books from the bookstore. Those experiences shaped her love for the place long before she ever imagined becoming its steward.
She brings strong financial and marketing experience, community engagement and marketing, and she is nearing completion of her master’s degree in public policy and health. Joe’s leadership experience in the community includes a track record of championing nonprofits, helping to foster the Indy Give! campaign and creating FOX21’s Loving Living Local show to spotlight small businesses and community organizations.
Seator and Skorman both plan to stay involved in the community. As a level 3 Qigong teacher, she will expand her class offerings. And Skorman, who served for more than 20 years as a city councilman and vice mayor, will be able to focus more on local environmental passions, including the nonprofit he founded, Richards Rubbish Roundup. You may also still catch him around Poor Richard’s bussing tables, chatting with customers or offering unsolicited political commentary over a slice of pizza.
Join the Celebration
There will be a public celebration on May 3 to congratulate all four owners, past and present, and welcome the next chapter of Poor Richard’s. Watch Poor Richard’s social media or poorrichardsdowntown.com for updates.
Read more about the small business’ legacy in Poor Richard’s Celebrates 50 Years of Books, Food, Film and Community.
