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Commissioner Linda Stewart wants the county to start drafting a backup plan in case the company holding the county's largest vendor contract continues to fall on hard times.
Centerplate beat out two other companies to land the lucrative 10-year, $300 million catering contract for the convention center. At the time it won the deal, the company's stock was valued at $12. Last week, its shares traded around $1.
The food-service provider was poised to be taken over by an affiliate of Kohlberg & Company LLC, but bank financing fell through.
Stewart voted against Centerplate taking over the catering contract, and she's been raising red flags about the company's declining fiscal footing ever since.
Still, top county and company officials say there's no need to worry, and no contingency plans are being crafted.
"Centerplate keeps us informed of any major company news, and they are continuing to get accolades for the services provided to our clients and in their other facilities," Deputy County Administrator Sharon Donoghue wrote in an e-mail.
Stewart said she's still not comfortable waiting for the company's finances to settle.
"I guess we'll just wait until it becomes a problem," Stewart said.
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