Tuesday, December 15, 2009

Sad News for Some Old Standbys

Bistrot Margot, the fashionable French eatery in Old Town, faces foreclosure.

Crain's reports that the recession has struck three well-known eateries:

"On the Near North Side, Bistrot Margot at 1437 N. Wells St. owes about $1.5 million on five past-due loans, according to a complaint filed by Associated Bank on Sept. 29 in Cook County Circuit Court.

Meanwhile, on the Near West Side, Izumi Sushi, a sushi and sake bar, and Jim Ching’s, a sister restaurant that specializes in Chinese takeout, filed for protection from creditors, with each venture listing assets of $1 million or less against debts of $10 million or less, according to petitions filed Nov. 30 in U.S. Bankruptcy Court in Chicago. "

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