Opening Too Many Eateries Causes New York Restaurateur to File Bankruptcy

Jason-Denton

The owner of the Catalina Corsino Italina restaurant and other eateries
located in Manhattan, Jason Denton, bit off more than he could chew by
opening too many restaurants leading up to
bankruptcy. His lawyer states the restaurateur opened too many eateries at a time
when the economy was struggling due to the Great Recession.

Denton, a prominent New York chef and restaurateur, recently filed for
bankruptcy protection with debt liabilities totaling roughly over $1 million.
He owns various restaurants throughout the New York City area including
‘inoteca located on the lower east side of the city, and Catina Corsino
Italina located in the Meatpacking District. He began opening and expanding
his eateries during a troubling time of the economy. His lawyer stated
that he was over expanded when the financial crisis set it, meaning, his
businesses took a hit as well.

In 1999, Denton opened a restaurant with celebrity chef Mario Batali called
Lupa Osteria Romana located in West Village. Denton has had a few eateries
close in the last year in this area and in Williamsburg. The filing will
help in settling debt with creditors while he maintains other eateries
that remain open. It is said the filing would not affect operations of
the restaurants that are still open.

If you are a small business owner and considering options in how to regain
control of business debt, review your options with an experienced bankruptcy
attorney in Dallas-Fort Worth.

Reference:
http://www.nydailynews.com/new-york/restaurateur-jason-denton-files-bankruptcy-article-1.1439825

By | 2017-12-13T00:42:37+00:00 September 17th, 2013|High-Profile Bankruptcies|Comments Off on Opening Too Many Eateries Causes New York Restaurateur to File Bankruptcy