Crain's reports that The Glazier Group, management group for the Strip House steakhouse in the Village and its five sister locations and Michael Jordan's Steakhouse in Grand Central Terminal filed for Chapter 11 bankruptcy protection yesterday. Co-owner Peter Glazier explains that they're restructuring corporate debt and asserts that the restaurants are "doing very well." The filing should not affect the status of the restaurants.
They owe General Electric Capital Corp $5.8 million and an undisclosed amount to about 50 - 99 other lenders, a half a dozen of whom have filed lawsuits against the group.
· Steakhouse bigwig Glazier Group files for bankruptcy [Crain's]
· All Strip House Coverage [~ENY~]