Central Park's Tavern on the Green Closing Down

Posted on December 30, 2009

Tavern on the Green in Central Park is closing its doors. NBC New York reports that just a few years ago the restaurant was plating 700,000 meals a year with revenues over $38 million.

Now the restaurant's name, chandeliers and fancy decor will be auctioned off following a bankruptcy filing.

But that astronomical sum wasn't enough to keep the landmark restaurant out of bankruptcy court. Its $8 million debt is to be covered at an auction of Baccarat and Waterford chandeliers, Tiffany stained glass, a mural depicting Central Park and other over-the-top decor that has bewitched visitors for decades.

Even the restaurant's name is up for grabs. At stake is whether another restaurateur taking over the 27,000 square feet of space, owned by the city, can reopen as Tavern on the Green.

Restaurants & Institutions says a new restaurant will likely take its place in March but it is unclear whether they will be able to use the Tavern on the Green name.


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