Top restaurant dishes up debts along with fine dining

ON Jan 5, Le Cirque will close its doors at 151 East 58th Street in New York.

After declaring bankruptcy in March, the restaurant's inability to turn its finances around has come as something of a shock to many in the food world. As recently as September, it was the setting for a fundraiser hosted by President Donald Trump at which guests paid up to $250,000 per couple.

"The rent was unsustainable," says co-owner Mauro Maccioni. "So rather than harm the Le Cirque brand, NYLC (New York Le Cirque) decided to vacate the space. NYLC the operating entity is shutting down, but the Le Cirque brand will move on."