the economys latest victim

[looneybin]

After 80 years, the Tavern on the Green is closing.
I ate there once about 20 years ago.Sad to see such an icon go.

[jyl]

http://www.nytimes.com/2009/09/16/dining/16tavern.html

Looks like they got hit by fall in corporate events and big weddings, 60% of revenue was such events rather than regular dining. It looks like over the past year, Tavern stopped paying employee benefits and needed $2MM loans just to make payroll and buy food. Then NYC did not renew their 20 year lease. I don't know why, perhaps because you don't lease a prime location to someone who is losing money, negative cash flow, and borrowing money just to pay payroll.

[Porsche-O-Phile]

I can't imagine there's much demand for $14 hunks of lettuce and $8 sides of mashed potatoes right now.

Adapt or die. It's the way of things.

Maybe they can supplement their core business catering AIG or TARP recipient banks' function lunches though. I'm sure they could bill handsomely for those.

[VINMAN]

They just auctioned off all their crap yesterday. Morons paying rediculous prices for some old beat up chairs and junk. Some couple paid 1600 bucks for a tiny table because they ate in there at one time.

[TechnoViking]

That's life in the big city, folks. Suffice to say I won't be losing any sleep tonight over it.

[herr_oberst]

I ate there once, glad I did, just to say I did, but not all that impressive.

Adapt or die. . . couldn't have said it better.

[McLovin]

They could have cut costs by secretly replacing the fine coffee they normally serve with Folgers Crystals.

[TSNAPCRACKLEPOP]

and servin mcribs.

[dan79brooklyn]

Tourist Trap, not sad to see it go at all.

Expensive, not very good food.

[TimT]

Tourist Trap, not sad to see it go at all.

Expensive, not very good food

Werd +1