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NYC's Tavern on the Green files for Chapter 11
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Published: September 10, 2009
Tavern on the Green, the landmark restaurant in New York City's Central Park, has filed for Chapter 11 bankruptcy protection.
Tavern Chief Executive Jennifer Oz LeRoy blames the filing on the financial crisis and New York City's decision not to renew its license for the 75-year-old restaurant.
The new license was granted to Dean J. Poll, who runs the Central Park Boathouse restaurant.
The federal bankruptcy filing lists 20 creditors. The New York Hotel Trades Council was owed nearly $1.78 million. Others include the New York Tent Company, American Express and the parks department.
Poll, who takes over Jan. 1, plans to renovate with green technology. The original building, which dates to the 19th century, housed sheep.
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