Tavern on the Green files for bankruptcy
Published on Sep 10, 2009
Nearly four months before Tavern on the Green is to yield its license to another operator, the landmark restaurant in Central Park has filed for Chapter 11 bankruptcy protection. On Aug. 28, the Department of Parks and Recreation announced that the new 20-year license would be taken over by Dean J. Poll, who runs the Boathouse Restaurant. The current license expires on Dec. 31.
Jennifer Oz LeRoy, chief executive of Tavern, said that the filing was "our only alternative given the current situation." She said the decision was the result of "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."
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