Pink Elephant Declares Bankruptcy, Fights To Keep Space

The owners of the Pink Elephant thought they had finally found a permanent home in Greenwich Village after years of searching. But it was not meant to be, as two years later, the club has declared bankruptcy and closed. Co-owner Roee Nahmani tells Crain's that "the neighborhood is evolving. It was just too soon to put Pink Elephant there."

The W. 8th Street location had been the home of the Love Club for a long time, but for some reason Pink Elephant couldn't get enough bodies in the door. They fell behind on rent and now have declared bankruptcy in an effort to keep their lease, which is very low at just $9,000 per month. The owners are working on a new concept, which they plan to reopen in September, and are going to try and find a new location for the Pink Elephant. How about that Mars Bar space?
· Greenwich Village Nightclub Files for Bankruptcy [Crain's]
· Pink Elephant Coverage [~ENY~]