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MONEYMAN
SOHO—Two unidentified sources tell us that Steve Hanson's three-star Soho Italian restaurant, Fiamma, has closed. Hanson may be breaking the news to staff as we speak. The restaurant's reservations line is now transferring to BR Guest corporate offices, and then disconnects. Calls are in to Hanson's office and PR.

Update: B.R. Guest confirms the restaurant has closed. As they own this building, it will be turned into an events space. Chef Fabio Trabocchi, who secured three stars for the restaurant in March of this year, will not be staying on.

In addition to Fiamma, Steve Hanson tells us he has also closed Ruby Foo's on 77th Street and his Blue Water Grill in Chicago. These second two closures are the two-fold result of economic times and their leases ending this year. All closures are effective immediately. Staff at the restaurants will receive severance.

http://eater.com/archives/2009/01/breaking_fiamma_closed.php



I STILL LOVE THIS TOWN!!!.......................IT DOES SEEM TO BE SHRINKING
Dishwasher
The best thing about this recession is that the rest's that have always provided good value are thriving. The ones that have always given the customer the shaft are now getting there payback.
MONEYMAN
News came over the wire this weekend of the imminent shutter of a New York icon and, thus, more trouble for the Cipriani family. On January 12, the famed Rainbow Room's restaurant, the Rainbow Grill, will close. Recently, the family sought landmark status for the restaurant and was known to be in a bitter lease dispute with the building's owner Tishman Speyer. The operators have cited both those lease woes and the lagging economy for the closure:

"'It's a very difficult decision to make, given the sort of status of the Rainbow Room as one of these quote-unquote New York City icons,' said Ben Branham, a spokesman for the operators...'The move is made, definitely, as one of protecting the venue.' He said it was unclear how long the restaurant would be closed...About 30 to 40 of the Rainbow Room's 120 workers would lose their jobs..."
The bar area and the banquet hall will remain open for special events and dinner and dancing.

http://eater.com/archives/2009/01/the_shut...m_next_week.php






The Loss of an icon...............let the bidding begin
MONEYMAN
QUOTE
While Devin Tavern hung on longer than a Mid-December report—sourced from an ex-bartender there—stated, the Tribeca restaurant has finally honestly, truly, officially thrown in the towel. Another ex-employee sends word and the answering machine at the restaurant confirms:

"Unfortunately we have closed for business. For those looking to make a reservation we'd be happy to have you at our sister restaurant Dylan Prime."

Kudos to them for trying to soldier through those last few weeks in this economic mess. More kudos for not dragging their charade out one second longer.

http://eater.com/archives/2009/01/the_shut...l_this_time.php







So long Johnny
Dishwasher
QUOTE (MONEYMAN @ Jan 14 2009, 02:37 PM) *
News came over the wire this weekend of the imminent shutter of a New York icon and, thus, more trouble for the Cipriani family. On January 12, the famed Rainbow Room's restaurant, the Rainbow Grill, will close. Recently, the family sought landmark status for the restaurant and was known to be in a bitter lease dispute with the building's owner Tishman Speyer. The operators have cited both those lease woes and the lagging economy for the closure:

"'It's a very difficult decision to make, given the sort of status of the Rainbow Room as one of these quote-unquote New York City icons,' said Ben Branham, a spokesman for the operators...'The move is made, definitely, as one of protecting the venue.' He said it was unclear how long the restaurant would be closed...About 30 to 40 of the Rainbow Room's 120 workers would lose their jobs..."
The bar area and the banquet hall will remain open for special events and dinner and dancing.






The Loss of an icon...............let the bidding begin

These days there are not that many people that are in a position to bid for icons. wink.gif
MONEYMAN
QUOTE (Dishwasher @ Jan 14 2009, 02:40 PM) *
These days there are not that many people that are in a position to bid for icons. wink.gif



They already have 5 different groups that have displayed interest in the space
Dick Johnson
QUOTE (MONEYMAN @ Jan 14 2009, 02:32 PM) *
SOHO—Two unidentified sources tell us that Steve Hanson's three-star Soho Italian restaurant, Fiamma, has closed. Hanson may be breaking the news to staff as we speak. The restaurant's reservations line is now transferring to BR Guest corporate offices, and then disconnects. Calls are in to Hanson's office and PR.

Update: B.R. Guest confirms the restaurant has closed. As they own this building, it will be turned into an events space. Chef Fabio Trabocchi, who secured three stars for the restaurant in March of this year, will not be staying on.

In addition to Fiamma, Steve Hanson tells us he has also closed Ruby Foo's on 77th Street and his Blue Water Grill in Chicago. These second two closures are the two-fold result of economic times and their leases ending this year. All closures are effective immediately. Staff at the restaurants will receive severance.



I STILL LOVE THIS TOWN!!!.......................IT DOES SEEM TO BE SHRINKING

Tsk. Couldn't have happened to a bigger dickhead.

Unfortunately, it's probably all the staff and workers that are going to suffer most. Luckily, they'll get some kind of severance, which is the one advantage that working for a big corporate group like BR Guest has always had. They were always on top of things like insurance, overtime and paid vacations for seniority. It's the only thing that was a draw for the - shall we say - 'knowledgeable' among us.
MONEYMAN
QUOTE
Fabio Trabocchi on Fiamma’s Closing
By Frank Bruni
Shortly after the news broke today that the restaurant Fiamma had been shut for good, I spoke on the phone with its chef, Fabio Trabocchi. He said that the restaurant had been crippled by the economic slowdown, and that he feared that Fiamma wouldn’t be the last prominent closing in the months ahead.

“I wish I could tell you otherwise, and I don’t mean to be pessimistic,” said Mr. Trabocchi, 34, who is now out of work. “But there are some tough conditions ahead, and over the next months it’s going to get worse rather than better.”

“Some places are seeing a 40 percent drop-off in business,” he said. “These are probably the most difficult economic times of our life, at least of my generation.”

At Fiamma, he said, the decline in business from the third to the fourth quarters of 2008 was between 25 and 30 percent. In early January, a typically slow month, the situation began to deteriorate further, he said.

“There is a breaking point,” he said, noting the impossibility of making enough of the adjustments necessary for a restaurant with plummeting revenues to stay in business. “If you fall below certain numbers, you’re taking out the soul of the restaurant itself.”

Fiamma was owned by BR Guest Restaurants, which also closed several of its other restaurants today: Ruby Foo’s and Level V in Manhattan, and Blue Water Grill in Chicago.

Mr. Trabocchi said that many restaurants of Fiamma’s three-star caliber and high price point are, or will be, tweaking their menus and fashioning special deals. Over recent months, he said, Fiamma had introduced new a la carte pasta dishes in the $18 to $20 range that were simpler and more straightforward than much of the fare the restaurant had been serving to that point.

He called these dishes “comfort food, old-time Italian favorites,” including a version of bucatini amatriciana and a dish of fresh pasta with roasted tomatoes, grilled peppers and ricotta.

But these changes didn’t help enough.

Mr. Trabocchi said he doesn’t know what he’ll do next, or whether he’ll be able to stay in New York, where he moved his wife and two children, now 5 and 7, from the Washington, D.C., area last June. He bought an apartment on the Upper East Side, where his children are in school.

In saying he would be “open to anything,” he was acknowledging that many accomplished chefs like him may not be able, in the current economic climate, to work with ingredients as expensive as they once did, or to prepare the kind of elaborate, elegant food they strived to master.
That’s not where the market is headed, he said.

“To be very honest with you, there will be less and less opportunity for chefs to cook what they want,” he said. “The price point needs to be lower. People need to feel they can come back.”

“Everyone’s going to have to be more recession-friendly.”

http://dinersjournal.blogs.nytimes.com/200...iammas-closing/





Sounds of the city that never eats!!!..................time for a new model

Maybe Fabio could make a deal with Bobby D and the AGO space
Go with a true Tuscan chef, instead of JGV................be alot cheaper Bobby!!
MONEYMAN

DICEY: Three Star Restaurants Most Likey to Fail in 2009?
Commenter wdt notes that Fiamma is the first three-star restaurant to close in 2009, and it may not be the last. Indeed, membership in the Three Star Club is precarious: diners eat with very elevated expectations and as a result are not always satisfied with the value-experience proposition with which they're met. Plus, in most cases, it's hella expensive to run these houses. No restaurant is safe, but perhaps we may see a bunch more three-baggers fall, too.

The entire list of Times Three Star Club members:

Adour Alain Ducasse - April 16, 2008
Alto — Oct. 31, 2007
A Voce — May 10, 2006
Babbo — June 9, 2004
Bar Room at the Modern — Jan. 10, 2007
BLT Fish — April 20, 2005
Blue Hill — Aug. 2, 2006
Bouley — June 23, 2004
Café Boulud — Aug. 15, 2007
Convivio — Oct. 1, 2008
Corton — Dec. 10, 2008
Country — April 5, 2006
Cru — Oct. 20, 2004
Del Posto — March 1, 2006
Dovetail - Feb. 20, 2008
Eleven Madison Park — Jan. 10, 2007
Esca — April 18, 2007
Felidia — Aug. 30, 2006
Fiamma — Nov. 28, 2007
Gramercy Tavern — June 6, 2007
L’Atelier de Joël Robuchon — Oct. 4, 2006
Le Cirque — Feb. 6, 2008
Matsugen - August 13, 2008
Momofuku Ko - May 7, 2008
Momofuku Ssam Bar - Dec. 3, 2008
Nobu 57 — Sept. 28, 2005
Oceana - July 16, 2008
Perry St. — Sept. 7, 2005
Picholine — Nov. 18, 2006
Scarpetta — July 30, 2008
Sushi Yasuda — Aug. 27, 2008
wd-50 - March 5, 2008



Eater contemplates a 3 star failure deathwatch list

When will all this negitive shit end............we need some positive moves to survive the wave
Penelope
QUOTE (Dick Johnson @ Jan 14 2009, 03:29 PM) *
Tsk. Couldn't have happened to a bigger dickhead.

Unfortunately, it's probably all the staff and workers that are going to suffer most. Luckily, they'll get some kind of severance, which is the one advantage that working for a big corporate group like BR Guest has always had. They were always on top of things like insurance, overtime and paid vacations for seniority. It's the only thing that was a draw for the - shall we say - 'knowledgeable' among us.



I have to say, it was a little sad (for the 'knowledgeable' among us, as you said) to see today. There were a lot of hard working people in those restaurants that put up with a lot of bullshit over the years. Sadly, now that most of his company is owner by Starwood, it isn't as if it is hitting him in the pocket as much.
abbe
QUOTE (Penelope @ Jan 14 2009, 11:18 PM) *
I have to say, it was a little sad (for the 'knowledgeable' among us, as you said) to see today. There were a lot of hard working people in those restaurants that put up with a lot of bullshit over the years. Sadly, now that most of his company is owner by Starwood, it isn't as if it is hitting him in the pocket as much.

ah! thank you-- STARWOOD

i was trying to remember who was the "equity partner" that had invested the $80million recently (last year, was it?) for almost half (if not more) of BR Guest ?

huh. interesting



so now (Moneyman, help me out here) lemme get this straight--

if Starwood "infuses" $80M, that's essentially a promise to infuse into the company up to that amount over time, but not exceeding that amount, is that right? i mean, it's not like they just cut a check for $80M on the spot, yes?

and so, given the current economic climate, does this mean Starwood is now UNABLE to fulfill that promise? and thus, these BRGuest properties are forced to close ??



very interesting.
BS Detector
QUOTE (MONEYMAN @ Jan 14 2009, 03:56 PM) *
DICEY: Three Star Restaurants Most Likey to Fail in 2009?
Commenter wdt notes that Fiamma is the first three-star restaurant to close in 2009, and it may not be the last. Indeed, membership in the Three Star Club is precarious: diners eat with very elevated expectations and as a result are not always satisfied with the value-experience proposition with which they're met. Plus, in most cases, it's hella expensive to run these houses. No restaurant is safe, but perhaps we may see a bunch more three-baggers fall, too.

The entire list of Times Three Star Club members:

Adour Alain Ducasse - April 16, 2008
Alto — Oct. 31, 2007
A Voce — May 10, 2006
Babbo — June 9, 2004
Bar Room at the Modern — Jan. 10, 2007
BLT Fish — April 20, 2005
Blue Hill — Aug. 2, 2006
Bouley — June 23, 2004
Café Boulud — Aug. 15, 2007
Convivio — Oct. 1, 2008
Corton — Dec. 10, 2008
Country — April 5, 2006
Cru — Oct. 20, 2004
Del Posto — March 1, 2006
Dovetail - Feb. 20, 2008
Eleven Madison Park — Jan. 10, 2007
Esca — April 18, 2007
Felidia — Aug. 30, 2006
Fiamma — Nov. 28, 2007
Gramercy Tavern — June 6, 2007
L’Atelier de Joël Robuchon — Oct. 4, 2006
Le Cirque — Feb. 6, 2008
Matsugen - August 13, 2008
Momofuku Ko - May 7, 2008
Momofuku Ssam Bar - Dec. 3, 2008
Nobu 57 — Sept. 28, 2005
Oceana - July 16, 2008
Perry St. — Sept. 7, 2005
Picholine — Nov. 18, 2006
Scarpetta — July 30, 2008
Sushi Yasuda — Aug. 27, 2008
wd-50 - March 5, 2008



Eater contemplates a 3 star failure deathwatch list

When will all this negitive shit end............we need some positive moves to survive the wave

The good news for some of these restaurants is that if they do close, they will be able to put the blame on the recession, instead of the fact that they just suck.
abbe
QUOTE (BS Detector @ Jan 15 2009, 12:05 PM) *
The good news for some of these restaurants is that if they do close, they will be able to put the blame on the recession, instead of the fact that they just suck.

hhhahhhahahhahahhaaa

and the good news for all the soon-to-be-completely-obsolete critics is that when some of these places fold, they'll also be able to blame the economy, instead of just admitting their authority (and/or power to "make or break" a restaurant) is totally null and void.
BS Detector
QUOTE (abbe @ Jan 15 2009, 12:09 PM) *
hhhahhhahahhahahhaaa

and the good news for all the soon-to-be-completely-obsolete critics is that when some of these places fold, they'll also be able to blame the economy, instead of just admitting their authority (and/or power to "make or break" a restaurant) is totally null and void.

Better yet, I hope they all just drop dead.
MONEYMAN
QUOTE (abbe @ Jan 15 2009, 12:03 PM) *
ah! thank you-- STARWOOD

i was trying to remember who was the "equity partner" that had invested the $80million recently (last year, was it?) for almost half (if not more) of BR Guest ?

huh. interesting



so now (Moneyman, help me out here) lemme get this straight--

if Starwood "infuses" $80M, that's essentially a promise to infuse into the company up to that amount over time, but not exceeding that amount, is that right? i mean, it's not like they just cut a check for $80M on the spot, yes?

and so, given the current economic climate, does this mean Starwood is now UNABLE to fulfill that promise? and thus, these BRGuest properties are forced to close ??



very interesting.



One slight correction, the purchase price for half of B.R.Guest was 150 million, and yes Starwood Capital (not the hotel guys) just wrote the check..........................they have over 2 BILIION under management and are raising another 7 Billion to complete their new fund.

Will they fulfill their commitment.................??????????????????
In this new economy who really knows
MONEYMAN
small Business News Growing a Business Guide In-Depth Video Poll May 08, 2009 3:02 PM

SoHo restaurant goes bankrupt
Tailor files for chapter 11, hoping to reorganize
Print Email Add a comment By Lisa Fickenscher Tailor restaurant in SoHo, which opened less than two years ago, filed for bankruptcy protection after its unpaid bills and taxes piled up to more than $300,000.

Owner Lauren Weiss is hoping to save the business by reorganizing under Chapter 11. Her lawyer, Gabriel De Virginia, blamed the recession for the eatery’s trouble.

“State tax and certain other obligations that owing to the general economy, couldn’t be timely met led to the filing,” he said in an e-mail message.

The restaurant owes half its debt to the New York State Department of Taxation, which is seeking sales and employee withholding taxes, according to the filing. The Internal Revenue Service is also listed as a creditor.

Its troubles may have started before the downturn. One of its creditors, public relations and marketing firm Bullfrog & Baum, has been owed $9,000 since last May.

In addition, Tailor’s landlord sued the restaurant for back rent last year.

A dinner and cocktail lounge on 525 Broome St., Tailor offers an eclectic menu of dishes made to taste both sweet and savory, such as maple poached snails and pork belly with Miso butterscotch. Its chef and partner, Sam Mason, earned his stripes as the pastry chef at WD-50, owned by acclaimed chef Wylie Dufresne.

Ms. Weiss did not respond to a query for comment.




HOLY SHIT......... TAILOR WASN'T EVEN ON THE LIST

MONEYMAN
http://www.nypost.com/seven/04302009/gossi...food_166904.htm

Trouble in Tribeca

David even looks on the edge ohmy.gif.................But he was on the list
abbe
yah so

now i hear Secession is closing in a couple weeks or so. even though they just recently got christian-delouvrier and everybody has been raving about him to me for awhiles now (i hadn't yet gotten the chance to try him).

i'm not exactly sure, but i think the plan is to move the japanese culinary school whatever thingie into that space instead of the old greek restaurant space up the road (which kinda makes sense-- i was surprised to hear a few weeks back that space was back on the market).

oh they lost walter-krajnc a couple weeks ago by the way. i don't know about yalls, but walter-krajnc was one of the main reasons i even went to Danube so often in the first place. i'm not saying his departure has anything to do with Secession closing up, but it's a notable coincidence if you ask me.

whatever
i'm just sayin.
Captain Kangaroo
QUOTE (abbe @ May 26 2009, 11:51 AM) *
yah so

now i hear Secession is closing in a couple weeks or so. even though they just recently got christian-delouvrier and everybody has been raving about him to me for awhiles now (i hadn't yet gotten the chance to try him).

i'm not exactly sure, but i think the plan is to move the japanese culinary school whatever thingie into that space instead of the old greek restaurant space up the road (which kinda makes sense-- i was surprised to hear a few weeks back that space was back on the market).

oh they lost walter-krajnc a couple weeks ago by the way. i don't know about yalls, but walter-krajnc was one of the main reasons i even went to Danube so often in the first place. i'm not saying his departure has anything to do with Secession closing up, but it's a notable coincidence if you ask me.

whatever
i'm just sayin.

They posted this on Eater and then Flo Fab just posted it, but she didn't give this tip any credit. I heard that she's like that tho, she hates to be scooped, and if that happens, she won't give owners anymore press when they open other places.

Alot of people liked Walter, he's at Cercle Rouge now.
abbe
QUOTE (Captain Kangaroo @ May 26 2009, 01:51 PM) *
They posted this on Eater and then Flo Fab just posted it, but she didn't give this tip any credit. I heard that she's like that tho, she hates to be scooped, and if that happens, she won't give owners anymore press when they open other places.

did i vaguely hear something similar awhiles back ? i think i did

OH !

YAH

ahaha haa i do recall now hearing some story about a chef "lying" to florence-fabricant when personally asked a direct question as to the ummm status of a certain rumored situation. and then later when it came out the chef lied ("scooped" by another foodie news source), supposedly florence-fabricant was not at all amused.

so ahahaa ha haa then when later the same chef went on to a more entrepreneurial endeavor, the opening of the restaurant merely warranted a one-line blurb buried amongst a dozen other similarly perfunctory mentions.

hahahaaahaha
i guess the moral of the story is: don't mess with the flo-fab !
BS Detector
QUOTE (Captain Kangaroo @ May 26 2009, 02:51 PM) *
They posted this on Eater and then Flo Fab just posted it, but she didn't give this tip any credit. I heard that she's like that tho, she hates to be scooped, and if that happens, she won't give owners anymore press when they open other places.

Alot of people liked Walter, he's at Cercle Rouge now.



QUOTE (abbe @ May 27 2009, 11:35 AM) *
did i vaguely hear something similar awhiles back ? i think i did

OH !

YAH

ahaha haa i do recall now hearing some story about a chef "lying" to florence-fabricant when personally asked a direct question as to the ummm status of a certain rumored situation. and then later when it came out the chef lied ("scooped" by another foodie news source), supposedly florence-fabricant was not at all amused.

so ahahaa ha haa then when later the same chef went on to a more entrepreneurial endeavor, the opening of the restaurant merely warranted a one-line blurb buried amongst a dozen other similarly perfunctory mentions.

hahahaaahaha
i guess the moral of the story is: don't mess with the flo-fab !

If that 100 year old dinosaur can't keep up with blogs and has to steal tips or use intimidation, it's prob time for her to retire.
Dishwasher
This post has been moved from the Private Forum now that it's common knowledge.

QUOTE (abbe @ Mar 4 2009, 11:28 AM) *
well this is kinda funny--

cuz

well okay, i guess i can let out one 'secret' now. cuz obviously it's out and about, since some random person also just told me about it last weekend.

but one of the restaurants ("by seasoned restaurateurs, open about a year") i heard was closing was: Smith's

and yes for sure the space was definitely on the market-- being offered rather aggressively, actually.

but now i hear doug-psaltis is now danny-abrams's new partner.

so i guess the same thing happened here as with [withheld] ?

namely, the space garnered no interest and so the inner workings got all re-shuffled ?



wow.


Blockbuster Shutter: Smith's to Reopen as Mermaid Inn
Monday, July 13, 2009, by Amanda

2009_07_smithsshutter.jpg

Greenwich Village: Doug Psaltis just can't catch a break. A tipster reports and a walk by this morning confirms that tiny lady-date spot and home of one of the best recession specials in the city—a $35 chicken dinner for two—Smith's has closed.

http://eater.com/archives/2009/07/the_shut...id_inn.php#more
Inkslinger
QUOTE (Dishwasher @ Jul 13 2009, 01:36 PM) *
This post has been moved from the Private Forum now that it's common knowledge.



Blockbuster Shutter: Smith's to Reopen as Mermaid Inn
Monday, July 13, 2009, by Amanda

2009_07_smithsshutter.jpg

Greenwich Village: Doug Psaltis just can't catch a break. A tipster reports and a walk by this morning confirms that tiny lady-date spot and home of one of the best recession specials in the city—a $35 chicken dinner for two—Smith's has closed.

http://eater.com/archives/2009/07/the_shut...id_inn.php#more


It only took 4 months. laugh.gif rolleyes.gif biggrin.gif
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