Buffalo (WBEN) --  It's a Buffalo institution -- and is likely to remain open after announcing earlier concerns about its declining business.

Jerry Scharf -- the owner of Scharf's Schiller Park Restaurant -- went public earlier this year with concerns about the lack of customers his restaurants was servicing. 

But since then, Scharf says the customers have returned and brought their money with them, too.

"I've gotten caught up on my bills, and I'm looking forward to staying open for a quite a while now," says Scharf.

Travers Collins -- a marketing communications firm in Buffalo -- helped Scharf's organize a fund-raising event Monday night at the restaurant.  Scharf says one of the firm's account representatives, Kellie Mazur, is a longtime friend of his family.

When asked what led to the decline is business, Scharf said his neighborhood just isn't the same as it once was.

"This used to be a vibrant neighborhood with a lot of businesses where people would come to shop and do things, and there just isn't anything to draw them to the neighborhood anymore," he says.

And even though Scharf has been able to get ahead of his finances, he knows the future of his restaurant and bar may mean moving elsewhere.

"Eventually, we'd like to get somewhere else, where we're more where everybody lives now," he says.

Monday's fund raiser -- titled "Scarf for Scharf's" -- included prizes, music, and authentic German food and beer. Patrons donated $15 for a buffet that included German potato salad, bratwurst,  and sauerkraut.

Scharf's Schiller Park Restaurant a famliy-operated business that was founded in 1967. It is considered the last remaining authentic German tavern left in Buffalo.