The Wainscott Il Mulino outpost and six other restaurants under the brand have filed for Chapter 11 bankruptcy, according to the New York Post.
The filing does not include New York City locations. The seven restaurants are backed by a five-year-old $35 million loan agreement with Benefit Street Partners, now in default.
Il Mulino owner Jerry Katzoff said the filing was made to prevent BSP from taking over the properties, which BSP signaled it wanted to do after the restaurants closed in March amid the coronavirus pandemic. Katzoff said there was already tension with BSP over the loan before the pandemic hit. The March closure effectively sealed the deal on the viability of the restaurants. [NYP] — Dennis Lynch