Tavern on the Green Files for Chapter 11

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This might partially explain why Tavern on the Green lost its lease to Dean Poll of the Boathouse it seems they owed the Parks Department $76,923, and that thats just a fraction of their debts. Per Diners Journal, 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 Department of Parks, for $76,923, and Gotham Seafood, for $68,197. The restaurant is now filing for Chapter 11 bankruptcy protection. Not exactly a shocker given the previous lawsuits that have been brought against it for non-payment. Jennifer Oz LeRoy blames it on two factors the extreme financial distress brought on by the current financial crisis and the City of New Yorks decision not to renew our license.

Tavern on the Green Files for Bankruptcy [Diner's Journal/NYT]