Tavern on the Green Files for Chapter 11

By

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 that’s just a fraction of their debts. Per Diner’s 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 York’s decision not to renew our license.”

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