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Restaurant’s operator cites economy, lost contract
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The operator of the Tavern on the Green in New York's Central Park has filed for Chapter 11 bankruptcy protection. LeRoy Adventures Inc., current operator of the 75-year-old fine-dining restaurant, cited the sluggish economy and the recent loss of its contract with the city's parks department to run the establishment, Nation's Restaurant News reports.
“The two major factors for the filing were that like so many restaurants nationwide and especially in New York, we suffered under the economic crisis,” Tavern spokeswoman Shelley Clark told NRN. “And when the city said it would not renew our lease, it put us in an untenable situation with our creditors and vendors. We thought this was the only responsible thing to do.”
LeRoy Adventures said the restaurant will remain open during the bankruptcy proceedings. The company lost the contract to operate Tavern on the Green last month, when New York City's parks department tapped Dean Poll, chief executive of Boathouse LLC and operator of The Central Park Boathouse restaurant, as its new licensee. Poll will take over the Tavern's operations next year.
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