Olana Files for Chapter 11 Bankruptcy

Photo: Noah Kalina

Crain's reports that Olana is the latest restaurant to declare bankruptcy: The restaurant lists liabilities of between $100,000 and $500,000 and creditors of less than 100, according to the bankruptcy filing. Crain's points to the average check price ($61 per person, according to Zagat) as a possible source of the trouble, but Adam Platts review in May of 2008 (two months after the restaurant opened) offers other clues. Platt pointed out a slightly strained stuffiness and a sense that this overpolished, overembroidered restaurant might be trying a little too hard before going on to grant two stars to chef Al Di Meglios local-minded Italian cooking.

Luxury Restaurant Olana Files Ch. 11 [Crain's]