LARAMIE — Bowman Pub and Brewing Co. in Laramie closed for good March 21.

The Wyoming brewpub operated by Michael Bowman and several partners could not continue operating due to high loan payments brought on by cost overruns, said principal owner Michael Bowman.

“It wasn’t any of the operations. Labor, food, and general operating costs were all right on budget, but the debt service was too high,” Bowman said. “We were close. The numbers we were doing were good, but we had to draw the line somewhere. We ran it as long as we could ethically do so.”

When Bowman, a former engineering student and ski-team member at the University of Wyoming, opened the brewery and pub in the fall of 1995, it seemed like a feasible idea.

But, he said, between the time he committed to the project and opened for business, six or seven other restaurants opened in the area and saturated the market.

Bowman Pub and Brewing Co. was located at 320 S. Second Ave. Bowman and his partners spent almost $1 million to remodel the building, which dates back to 1883. During the renovation, they incurred unexpected costs and ran about 25 percent over budget, Bowman said.

Bowman worked with about 15 other partners to open the brewery and restaurant.

“Everyone in the venture was friends and family, and they all went in with their eyes open — they all knew there was risk involved,” he said.

Medicine Bow Brewing Co. of Cheyenne recently assumed management of an establishment near Bowman’s and is not doing as well as anticipated, said owner Larry Sortor.

“We were really surprised and sad to hear that Bowman’s closed,” Sortor said.

Sorter doesn’t believe Medicine Bow’s new Laramie location contributed to the business’ demise, and in fact, he said, they sold Bowman’s beer.

Bowman said he doesn’t blame competition for the closing.