Tavern on the Green Closing – Icon and landmark Tavern on the Green is closing and will serve its last meal on New Years Eve – Is it a sign of the times or just due to poor management.
Tavern on the Green closing came as a surprise to many patrons and admirers who believed that the backdrop to so many historical New York moments was continuing to be successful through hard economic times.
Just three years ago, Tavern on the Green was serving about 700,000 meals a year and grossing $38 million. The famous New York restaurant has suffered through hard times before. It opened 75 years ago during the great depression.
Warner LeRoy owned Tavern on the Green since 1973, and after his death in 2001, the famous restaurant has been managed by his wife Kay LeRoy and daughter, Jennifer LeRoy.
Now the grand Tavern on the Green overlooking Central Park in New York is $8 million in debt and the operating license was granted to Dean Poll who also owns the Loeb Boathouse overlooking the Central Park lake.
In January, a federal judge will decide whether the name Tavern on the Green can be kept by the new owner or if the name belongs to the LeRoys. If Dean Poll is not granted the rights to the famous name, he will rename it Tavern on the Park and will reopen in March 2010.
Much of the restaurant’s famous decor will be auctioned off to cover the $8 million in debt and 450 creditors. The iconic Baccarat and Waterford chandeliers, Tiffany stained glass, famous murals and artwork that fill the 27,000 square foot space will be auctioned.
Do you have a special memory of the landmark restaurant that became synonymous with the glamour and grandeur of New York? Share your story in the comments section below.
That’s the latest news about Tavern on the Green Closing.
Tags: auction, bankrupt, food, New York, restaurants, Tavern on the Green, Tavern on the Green closing
January 5th, 2010 at 7:56 am
wow what a interesting post , its really