August 24, 2020 Events, Restaurant/Bar News
SIDEWALK SPORTS FOR LOCAL FANS
Well, it’s sports with no fans in attendance and its a bar with no bar, but it’s the best we can do given what we’ve got. Mudville 9 managed to add TVs to its outdoor seating, and it’s 1) a clever solution, and 2) a symbol of how hard everyone around here is trying to put their businesses back together. Go team.
IL MULINO HAS FILED FOR BANKRUPTCY
And here’s the other side of the coin. The Post reports that Il Mulino has filed for bankruptcy at seven of its locations, including the Hamptons. Ours is not on the list, but it is still closed for the pandemic. From The Post: “Il Mulino owner Jerry Katzoff said the step was needed to prevent lenders from trying to take over the trendy trattorias following a loan default. Besides the Wainscott location, a favorite of stars such as Jimmy Fallon and Bethenny Frankel, the other Il Mulinos in the Ch. 11 case filed in New York are in Roslyn, LI, Las Vegas, Miami, Atlantic City and Puerto Rico.”
The restaurant on 60th and Park is open for deliveries and pickup.
PLAZA IN FRONT OF WINTERGARDEN OPENĀ
Just a note: the seating in front of the Wintergarden is open to all — you do not have to be a patron of a restaurant to eat there, which is a nice option for takeout or coffee.
BROOKFIELD HOSTING TENNIS OPEN
And also at Brookfield: they have once again built a court on the esplanade above the North Cove Marina, and this year it will host kid clinics and camps, adult clinics and open court time in half-hour increments. The mini camp is free and runs from August 26 to 28 and August 31 to Sept. 3. See details and register here.
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Unfortunately, it seems apparent that the local Il Mulino in Tribeca is going to close. It never did well pre-Covid. On its strong nights, it only garnered 50-75% capacity. Most nights were below 50%. IM never gained a large local following and the business is highly dependent on corporate dining and, to a lesser degree, travelers. As we all know, the high-end corporate business will not return for quite some time – likely not until a vaccine is widely disseminated and the Covid problem has been eradicated. The banks, law firms, hedge funds and other IM corporate customers are simply not going to allow their employees to entertain or host events until the vaccine is successful. According to the bankruptcy filings, IM had been struggling and losing money across all of its restaurants for numerous years (long before the pandemic). Its expansion strategy was overly aggressive and highly dependent on debt financings. According to its largest creditor, the reason why IM has not shut money-losing restaurants such as Tribeca is that owner Jerry Katzoff has provided personal guarantees to banks and landlords and would be forced to immediately repay these obligations if such locations also filed bankruptcy. In short, it does not look like our local IM is going to survive.
Any news re: Restaurant Space for lease on Summers Day window?