NY’s Tavern on the Green bites the dust in recession, to auction off its Waterford chandeliers

NY’s Tavern on the Green restaurant bites the dust

NEW YORK — New York City’s famed Tavern on the Green restaurant is singing its culinary swan song. Its last meal will be served on New Year’s Eve.

Just three years ago the former sheepfold at the edge of Central Park was plating more than 700,000 meals annually and bringing in more than $38 million.

But that wasn’t enough to keep the landmark restaurant out of bankruptcy court. Its $8 million debt is to be covered at an auction of Baccarat and Waterford chandeliers, Tiffany stained glass and other decor that has bewitched visitors for decades.

Even the restaurant’s name is up for grabs. A judge will decide next month whether another restaurateur taking over the space can reopen with the Tavern on the Green name, which is valued at about $19 million.