Tavern on the Green in the Red, Files for Bankruptcy

Just days after failing to win the right to continue running a mediocre overpriced tourist trap in a 19th century Central Park sheepfold, Tavern on the Green is filing for Chapter 11 bankruptcy. CEO Jennifer Oz LeRoy tells the Times it's "our only alternative given the current situation." In four months, Central Park Boathouse owner Dean Poll will take over the location, and in the meantime Tavern will attempt to ~~burn~~ appease some 20 creditors, such as the New York Hotel Trades Council, which is owed $1,778,764. Tavern also owes the Parks Department—which declined to renew its lease—$76,923, and one imagines LeRoy's gonna love shrugging off that one. Meanwhile, the dining industry paroxysm is even hammering celebs like Mario Batali—the Crocs-wearing chef was a partner in the far-out seafood restaurant The John Dory, which just went belly up after nine months. The landlord is now suing Batali for $75,000 back rent. Oh, and Café des Artistes, the Lincoln Square restaurant that just closed after 90-plus years, is also jumping on the bankruptcy bandwagon. Expected to be screwed in that filing are the restaurant's employees, who are owed $116,471 in benefits through their union.

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By John Del Signore in Food on September 10, 2009 10:28 AM

Comments [rss]

ChampionOfTheSun

It's a pretty cheesey place overall, but there's still something romantic about it. I'd love to see it remodeled and turned into something more interesting and afforable. Or turn it into a great restuarant without the gimmicky touristy bullshit.

zodak

i guess that means no more monday night salsa dancing :(

Alex

Burn that shithole to the ground.

mychael

I think someone should do an investigation on the impact of Tavern on the Green's union contract with Local 6.

The Hotel Trades council collects pension and benefit payments for Local 6. They are Tavern's largest creditor at 1.8 million. How can any restaurant support these kinds of obligations in this economy when catering business has declined so rapidly.

Contractually obligated wages are astronomical for a restaurant and unsupportable for anyone to succeed.

Peter Ward, of Local 6, in my opinion is the person mostly responsible for the bankruptcy of Tavern on the Green.

GREGORYABUTLER

Restaurant workers deserve pensions and benefits, just like everybody else.

And expensive restaurants (if they are well managed) can afford to pay

And if they are not well managed - well, that's what they made bankruptcy court for!

If it wasn't for union labor, New York would be like Calcutta with snow.

billybob

good riddance, rude staff, over priced food, 80s style mirrored walls, place is an absolute joke.

Ed

This is great news. Its no loss as a restaurant, and Central Park is too cluttered. This gives us an opportunity to remove some of the additions and get the park back to Olmstead's vision.