Olana Files for Chapter 11 Bankruptcy

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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 Platt’s 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 Meglio’s local-minded Italian cooking.

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