Strip House operators aim to restructure debt in bankruptcy

A popular New York City steakhouse operator has filed for Chapter 11 bankruptcy protection, according to Crain’s. The Glazier Group, which owns Michael Jordan’s Grand Central Terminal Eatery, the Steakhouse, along with a half-dozen Strip House locations, filed for bankruptcy as they begin “restructuring corporate debt,” said Peter Glazier, who co-owns the restaurants with his wife, Penny Glazier. The company, which employs around 1,300 people, is estimated to have
between $10 million and $50 million in assets and liabilities. The
Glaziers maintain that business at the restaurants is “doing very well.”
[Crain’s]