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Since last year, the arrival of famed New York City restaurant Circo in Dallas has been one of the city’s most anticipated new eateries. Originally slated to open in February, a financial setback at the restaurant’s parent company could spell trouble for its Dallas outpost.
Page Six reports that Circo and its sister restaurant Le Cirque have both filed for Chapter 11 bankruptcy protection as part of a “financial restructuring.” Circo owner Mauro Maccioni told Page Six that the move is an attempt to save leases on outposts of Circo slated to open in Dallas, Orlando, and Dubai, and is related to a “short-term cashflow issue.” According to the bankruptcy filing, the restaurants collectively owe between $500,000 and $1 million to dozens of creditors.
Maccioni also maintained that the company’s currently-open restaurants will operate as usual, and expansion plans have not been scrapped. Still, as Eater reported last year, Circo was originally expected to open its doors in February 2017. Back in October, the date was pushed back to March, but with just a few days left in the month, it doesn’t look like that’s going to happen either.
Eater has reached out to Circo for more details on when it will make its Dallas debut. Until then, we’ll all just have to dream about drinking at that forthcoming rooftop pool.
UPDATE: A representative for Circo assured Eater that the Dallas location will go forward with no issues, and that the bankruptcy will not impact its opening. It’s set to debut in Summer 2017.
