Tavern on the Green files for bankruptcy protection
Filed under: Company News, Economy
Another iconic New York City restaurant has hit tough times.
Less than two years after it announced grand plans for a national expansion, Tavern on the Green, a New York landmark, filed for voluntary Chapter 11 bankruptcy protection Wednesday in U.S. Bankruptcy Court, Southern District of New York.
Tavern on the Green, which has appeared in such films as "Arthur", "Wall Street" and "New York Stories", and where generations have celebrated weddings, anniversaries, graduations, was taken over by Warner LeRoy more than 25 years ago. It was once one of the most successful restaurants in the country. A $40 million dollar operation with a staff of 525 and nearly 500,000 patrons annually, the restaurant is known for its prime location in Central Park in addition to its beautiful garden and its elaborate decor of crystal, mirrors and Tiffany ceilings. Its eclectic menu consisted of contemporary American and seasonal fare.
Before the bankruptcy filing was made, the restaurant was already scheduled to close on December 31st, as a new 20-year license was sold to another operator, which also runs the Central Park Boathouse restaurant. In the meantime, Tavern on the Green will continue to operate and take reservations for the rest of this year.
This isn't the first time the LeRoy family's restaurant empire has been negatively impacted by tough economic times. In 1998, LeRoy took over and reopened the Russian Tea Room, another iconic restaurant in midtown Manhattan. In July 2002, his family was forced to make the decision to close the Russian Tea Room. According to its website, the closing was "yet another casualty of the terrorist attacks of 9/11 and the dramatic resulting downturn in the New York economy." The Russian Tea Room eventually reopened under new owners and management.
Only one block away from Tavern on the Green, another fabled restaurant, Cafe des Artistes, has also shuttered its doors. It also filed for voluntary bankruptcy protection on September 9th.
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Reader Comments (Page 1 of 2)
9-10-2009 @ 5:38PM
Jeff Sklar said...
Carrie,
The Tavern On The Green was founded more than 50 years ago. I was married there in 1970 and my sister was also married there the following year.
My mother's cousin, Lore Moser-Brenauer was the Banquet Director going back almost 50 years ago, prior to the LeRoy family's ownership.
Let's hope that some other corporation will take over "The Tavern" and conitinue a great New York tradition.
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9-10-2009 @ 6:18PM
charlie said...
More of that "Hope and change" in action. Oh, I forgot this is all Bush's fault.
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9-10-2009 @ 7:03PM
Hershel Will said...
remember tomorrow will be the 11th of September. on that day in 2001 bush had been in office almost 9 months. so if obama is responsible for this then bush should be held responsible for that.
9-10-2009 @ 10:45PM
jessie said...
now THAT didn't make any sense, you do realize that the terrorist were planning 911 for well over a year don't you?? whereas when the republicans had control of congress, unemployment was at 4% and the dow was at 14k and oil was at about 40 a barrel, a year after the dems tookover, what happened? unemployment is at 9.7 (at least) the dow is at 9k and oil is at 71 a barrel. bush screwed up by giving the first stimulus, while he was appeasing pelosi and reid, now what are these LIEberals doing? I don't see them doing one darn thing except expanding their socialist agenda
9-10-2009 @ 6:22PM
Boz said...
Could it be that it was so overpriced that the common man...or woman...couldn't venture into its doors?
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9-10-2009 @ 6:27PM
Duke said...
The will be more bankruptcies comeing. Walmart and Mc Donalds will be all that is left.
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9-10-2009 @ 7:52PM
LimoDave000 said...
My fondest memories of Both Tavern on the Green and Cafe des Artistes go back to 1960-62. I was working at the ABC headquarters across on 67th Street, and enjoyed the ornate bar and congenial atmosphere at One West 67th Street.
Although the lunches at Tavern on the Green began at $4.50 it was far too much for me as I made $56/week when I was a mailboy. I still enjoyed taking brown bag lunches across Central Park West and sitting in the park in the New York City springtime.
Sorry to see how things are there, and I'm glad to know the others like the Russian Tea Room are still going.
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9-10-2009 @ 9:39PM
ACE 1 said...
I'M HAPPY THEY DIDN'T FILE 17 YEARS AGO . I USED THERE BATHROOM ALOT WHEN I WAS WORKING ON CENTRAL PARK WEST . WOW I WOULD HAVE BEEN SHTN IN MY PANTS. THAT OLD SAYING IS TRUE .THE RIGHT PLACE ,THE RIGHT TIME..............
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9-10-2009 @ 9:40PM
skipperrc said...
many resturants are going under. price of meals have almost doubled here. dineing out is a luxury. businesses involved in luxury services are the first to go. i eat at home now. buy less clothes and other luxury items. if i can do without it i don't buy it. only necessities now. i can teach our government some lessons on budgeting. be close with your money. the recession ride is just beginning.
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9-10-2009 @ 10:18PM
Firewind said...
This is nasty. They were already going to close December 31st. They don't want to pay their bills. (I, too, have enjoyed a few iconic luncheons there.)
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9-10-2009 @ 11:17PM
larry dum said...
new york and new yorkers are to blame for the nation's current recession. i hope the whole town and the state both go bust.
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9-10-2009 @ 10:38PM
ErickLR47@aol.com said...
We had lunch there and it was clear that the place was playing on its reputation and not on its quality. Having had lunch several times at the Boathouse, I think the Tavern may have been given a new chance at survival.
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9-10-2009 @ 10:58PM
Jim K said...
Wouldn't have happened if they had served fried bologna and biscuits for breakfast.
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9-10-2009 @ 11:30PM
zekelanz said...
THE BASTARDS JUST DONT WANT TO PAY THE VENDORS..I OWN A RESTAURANT SO I KNOW THE GAME THEY ARE PLAYING WITH OPM THE FISH AND MEAT GUYS HAVE FAMILYS TO FEED TOO ,DIRTY BASTARDS HIDING BEHIND THE LAW
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9-10-2009 @ 11:50PM
mike said...
What a scam...Knowing there 20yr. lease as up. They could of planned paying there creditors for the past year or two and not filed bankruptcy and closed there business with honer. Instead they screw everyone on the way out and the restaurant will be under new ownership. B**S***
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9-11-2009 @ 9:09AM
Gloria Balogh said...
I have heard of this restaurant many times. The vendors are rightfully ticked off. Sounds like this was a plan to cheat them out of their money. Maybe Trump will buy the Tavern On The Green and turn in into a fast food Trumpburger in Central Park ..
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9-11-2009 @ 12:48AM
Hershel Will said...
well Jessie....what doesn't make any sense is that you think that the economy went bad since Jan 20, 2009. keep drinking the republican kool-aid. there aid is for corporate socialism which they have been expanding for over 60 years.
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9-12-2009 @ 6:46AM
gregg said...
Hershel Will, he stated when the democrates to over congress and the senate. That was in Jan 2007, since then things have been going steadly down hill. All they have done since taking control is throw mud at President Bush and even though he is no longer in office still blame him for the things that the put into effect. Only way to get anything accomplished is to vote all the incumbants out and get new people in there that will listen to the people. That includes all the Democrate, Republicans and Independants.
9-11-2009 @ 12:47AM
hershel will said...
and Jessie......Bush was taking care of his friends. He was not appeasing anyone on the democratic side. throughout his administration he NEVER cared about the constitution or what democrats thought. It is time the democrats take the same attitude toward the fascist right-wing.
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9-11-2009 @ 1:49AM
Lorraine said...
Seems to me Warner LeRoy lacks what it takes to make it in the restaurant business. Yes I know times are difficult now but this isn't the 1st one they've run into the ground. The Russian Tea Room also fell prey to them. A lady I know, every few years, used to rack up monumental debt. She would get credit cards out the rear, charge them to the max, then file for bancruptcy. This happened quite often. Am getting the same feeling here. Milk it for everything it's worth, then move on to the next .
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