Nearly four months before Tavern on the Green, the landmark restaurant in Central Park, is to yield its license to another operator, the landmark restaurant in Central Park has filed for Chapter 11 bankruptcy protection.
In a statement, the current license holder, Jennifer Oz LeRoy, chief executive of Tavern, said that the filing was “our only alternative given the current situation.” She said the decision was the result of “two factors — the extreme financial distress brought on by the current financial crisis and the City of New York’s decision not to renew our license.”
On Aug. 28, the Department of Parks and Recreation announced that the new 20-year license would be taken over by Dean J. Poll, who runs the Central Park Boathouse restaurant. The current license expires on Dec. 31.
Ms. LeRoy’s father, the restaurateur Warner LeRoy, who died in 2001, took over the restaurant in 1976. “We are proud of the service we have provided to thousands of patrons over the years,” Ms. LeRoy said.
She added, “We plan to honor all of our obligations to our loyal employees and customers until our lease expires at the end of the year.”
The filing in the United States Bankruptcy Court for the Southern District of New York listed 20 creditors. The largest, the New York Hotel Trades Council, was owed $1,778,764. Other creditors included the New York Tent Company, for $104,156; American Express, for $79,096; the parks department, for $76,923; and Gotham Seafood, for $68,197.
For years, the restaurant, near West 67th Street, has been one of the highest-grossing independently owned restaurants in the United States.
In June, Ms. LeRoy started a public relations effort to keep the license, called “Keep Tavern on the Green,” and a lobbying effort was aimed at City Hall to influence the choice of the operator. But the parks department chose Mr. Poll.
tavern on the green files for chap11
tavern on the green files for chap11
http://www.nytimes.com/2009/09/10/nyregion/10tavern.html?hp
tavern on the green files for chap11
also just heard that cafe des artistes is going chap 11 as well...that's clinton's favorite restaurant.
tavern on the green files for chap11
Why would the city want to take away the license of one of its most famous establishments?
