Tavern on the Green Bankrupt; Owes Mostly to Union Funds
Congratulations again to Dean Poll, who last month won the contract to run Tavern on the Green -- which is now bankrupt. Tavern on the Green LP filed for Chapter 11 yesterday. It's allegedly the second-highest-grossing restaurant in the nation, but lists liabilities of $50 million. Its largest creditor is the powerful New York Hotel Trades Council and Hotel Association of New York City Inc. Health Benefits Fund, Pension Fund and Industry Training Fund, into which restauranteurs must pay if they employ union help, as TotG does. Poll, who runs the non-union Central Park Boathouse, has not said whether he intends to keep the Tavern a union shop, though pressure is great for him to do so. The Tavern also owes the New York Tent Company ($104,156), American Express ($79,096), the Parks Department ($76,923); and Gotham Seafood ($68,197). Photo (cc) hmerinomx.
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