search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aElliman agent and “RHONY” star jumps to CompassElliman agent and “RHONY” star jumps to Compass
Hamptons Newsletter
Tri-State

Hamptons Il Mulino and six other restaurants file for bankruptcy

An aerial of Wainscott Il Mulino (Photo via Google Maps)
An aerial of Wainscott Il Mulino (Photo via Google Maps)

The Wainscott Il Mulino outpost and six other restaurants under the brand have filed for Chapter 11 bankruptcy, according to the New York Post.

Sign Up for the undefined Newsletter

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

Tags
Hamptons