According to Crain’s, the Glazier Group, which owns Michael Jordan’s the Steakhouse as well as the Strip House, has filed for Chapter 11 bankruptcy. Peter Glazier, owner of the group with his wife, Peggy, says they’re “restructuring corporate debt,” including $5.8 million owed as the result of a loan to General Electric, and money owed to half a dozen creditors who’ve filed lawsuits. Crain’s reports that “the estimated number of creditors, according to the filing, is 50 to 99, while the consolidated assets are listed as $15.2 million and liabilities are $26.8 million.” Mike Tyson may want to consider the case of Michael Jordan’s the Steakhouse — according to a Post source, he’s toying with the idea of opening a kosher restaurant.
Steakhouse bigwig Glazier Group files for bankruptcy [Crain’s]
Mike Tyson considers a move into the restaurant business [Page Six/NYP]
