Feds Dun Bagel King $2.3 Mil


Herman Toro and his Third Toro Real Estate Corp have been hit with a $2.335 million property lien by the IRS, says the New York Post. In this rich city we expect bills such as this are received every day, but you might be more interested than usual because Toro is one of the founders and owners of local institution H&H Bagels.

The Third Toro Corp we don’t know from, though its listed address is 639 West 46th Street, site of one of H&H’s stores. We hope for Toro’s sake it does well, though, because Manta Company Intelligence lists H&H annual sales at a mere $7.7 million. Come to think of it, maybe this is why Toro’s got tax trouble in the first place.

H&H’s website is remarkably incomplete, and Toro is little in the news. On February 22, 2006 he got play in the Post when a former quality control manager, Dean Borok, charged that Toro “wrongly listed him as a company officer,” in which capacity Borok was charged $20,000 in business taxes.

We hope that if word of this reaches any of the homeless people who used to gather, by kind arrangement, outside H&H on the Upper West Side early each morning to pick up the previous day’s bagels, they will spare the bagel king a kind thought.

Image adapted from a Flickr phot by joyepurser under a Creative Commons license.