Dean & Deluca debt troubles

Things are not looking good at the remaining SoHo store. Shelves were mostly empty… looks like their suppliers have pulled out.

As would anyone who wasn’t getting paid, I imagine.

Does anyone have any updates on Dean and Deluca in Nyc? I have been reacquainting myself with New York in the past few years, and regular stops to my favorite place, their Soho flagship, have been an important part of it. Although I’ve read extensively on the company takeover, the badly mismanaged relationship with their suppliers, and the shutdown of every branch… I’ve still hoped in some way the company would return (under a better owner :sweat:) I do deeply wish someday, I’ll be able to return to that Soho original store, what a wonderful place.

The Japan locations seem to be thriving and doing well, as I make several trips a year and go to them frequently. I’ve become a big fan of the brand, and wish it to survive.

“I do deeply wish someday, I’ll be able to return to that Soho original store, what a wonderful place.”

Yeah, that aint happening.

Your posts seem to ignore the fact that there is severe economic stress on restaurants and other aspects of the economy. If it was already in bankruptcy, there is no way NOW that it will come out of it.

Same goes for all your posts on restaurants. Many of them may no longer be in business after MONTHS of no income. Your posts seem tone deaf.

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The company was already in debt, closed all of their stores, and had gone many months without income… yet they’re still discussing how to revive it. I think that alone shows they have confidence. I forget where I read the recent article. I was just wondering if anyone had more info. In addition, big companies like these, they tend to see an economic crisis’s end as an opportunity to rebound, as proven from the past.

I was just trying to look into a favorite place of mine, that I had not given up hope in. Your prediction is entirely too pessimistic, and doesn’t give enough of a percentage of success to a positive outlook. We don’t know exactly what will happen in the future. Why not assume the best for restaurants and related businesses? The ones who work towards that will certainly succeed, and the ones who have already accepted their doom will crumble.

I prefer to live in reality. Just my global POV. Your trip to the SOHO store will never happen. They have lost that location; it has been gutted and is up for re-lease. Could they remain as an online store or in other geos. Maybe.

The company’s assets don’t come close to covering Dean & DeLuca’s massive debts.

The company has accumulated $100 million in operating losses and owes $700,000 to vendors. The grocer owes approximately $275 million to its lenders, landlords, vendors and other creditors, according to the filing.

Dean & DeLuca has one remaining employee — based in New York City, according to court documents.

Thanks for the reference articles.

I think this is the one I read:

It’s not even really the same company it once was, just a brand owned by a new owner. If someone were to some day acquire the name brand and the space from the current owner, I don’t see that out of the prospects. That number sounds like a lot, certainly it is, but I have seen more ridiculous business deals before. Plus, the brand seems to hold a certain amount of value.