Into the meat grinder goes Wall Street Burger Shoppe, whose extra-pricey blend of Kobe beef, black truffles and foie gras apparently failed to grab customers.
The Wall Street Burger Shoppe made international headlines several years ago when it put a $175 burger on its menu. Today, the 112-seat joint in the financial district is closed, filing for Chapter 7 bankruptcy protection on Tuesday, just three years after opening.
Chef and owner Kevin O'Connell, who launched a number of other notable eateries, including Pop Restaurant, Pop Burger, Pizza Bar and Veranda, did not respond to a request for comment.
His lawyer, Tanya Dwyer, said the restaurant, at 30 Wall St., was not profitable. Mr. O'Connell is the sole owner of Burger Shoppe, having bought out a business partner earlier this year. There were other partners in the restaurant as well, Ms. Dwyer added, but they were “not able to make a go of it,” and pulled out of the business earlier.
Mr. O'Connell has worked under prominent chefs Daniel Boulud, David Burke and Patrick Clark, according to a website for his eponymous consulting business.
The bankruptcy filing for his Burger Shoppe listed liabilities of up to $500,000 and assets of up to $50,000. The restaurant's biggest creditors appear to be its landlord and the New York state Department of Taxation and Finance, although a more detailed bankruptcy document will be filed next week and disclose more information about the restaurants problems, Ms. Dwyer said.
The restaurant made a splash shortly after it opened with the ultra-pricey burger made out of Kobe beef, black truffles and foie gras. Called the Richard Nouveau Burger, it was offered in the more upscale upstairs dining room of the restaurant, which had a quick-service counter on the ground floor.
The Burger Shoppe's demise, however, does not reflect New Yorker's waning appetite for burgers, said restaurant guide publisher Tim Zagat.
“The economy has been driving this trend for the past three years,” said Mr. Zagat. “And I don't see that disappearing yet.”
Chef and owner Kevin O'Connell, who launched a number of other notable eateries, including Pop Restaurant, Pop Burger, Pizza Bar and Veranda, did not respond to a request for comment.
His lawyer, Tanya Dwyer, said the restaurant, at 30 Wall St., was not profitable. Mr. O'Connell is the sole owner of Burger Shoppe, having bought out a business partner earlier this year. There were other partners in the restaurant as well, Ms. Dwyer added, but they were “not able to make a go of it,” and pulled out of the business earlier.
Mr. O'Connell has worked under prominent chefs Daniel Boulud, David Burke and Patrick Clark, according to a website for his eponymous consulting business.
The bankruptcy filing for his Burger Shoppe listed liabilities of up to $500,000 and assets of up to $50,000. The restaurant's biggest creditors appear to be its landlord and the New York state Department of Taxation and Finance, although a more detailed bankruptcy document will be filed next week and disclose more information about the restaurants problems, Ms. Dwyer said.
The restaurant made a splash shortly after it opened with the ultra-pricey burger made out of Kobe beef, black truffles and foie gras. Called the Richard Nouveau Burger, it was offered in the more upscale upstairs dining room of the restaurant, which had a quick-service counter on the ground floor.
The Burger Shoppe's demise, however, does not reflect New Yorker's waning appetite for burgers, said restaurant guide publisher Tim Zagat.
“The economy has been driving this trend for the past three years,” said Mr. Zagat. “And I don't see that disappearing yet.”
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