BANKRUPT: America’s highest earning restaurant

Recessions are incredibly destructive to the hospitality industry. Personally, I believe this may be a good thing as it does clear away a lot of dead wood from what is a very competitive business. Having said that, it’s never nice being on the receiving end, and I speak from experience here.

One restaurant that hasn’t made it through is New York’s famous Tavern on the Green, which has filed for bankruptcy protection. Ironically, the restaurant opened in 1934 during the Great Depression and has been taken down, in part, by the current recession. Figures in 2005 showed that Tavern was earning nearly