financial woes

Le 55 Files for Le Chapter 11

The brunch lines couldn't save Merkato.

The brunch lines couldn't save Merkato.Photo: Ben Leventhal

Crain’s, which just hired Gael Greene to be their critic (she’s doling out hats instead of stars, and awards the maximum three to Locanda Verde today), publishes the unsurprising news that the troubled Merkato 55 (now being called Le 55) has filed for Chapter 11: “Douglas Pick, an attorney representing its ownership, AM Operating Group, LLC, says the plan is to emerge from bankruptcy as a profitable business. The restaurant, which serves African cuisine, is in arrears to the New York State Department of Taxation and Finance and to its landlord.” [Crain’s]

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