A Yonkers pizzeria that is ranked as the 99th most tax delinquent business in New York has filed for bankruptcy protection.
Silvio’s Italian Restaurant Inc. petitioned for Chapter 7 liquidation on April 5 in U.S. Bankruptcy Court, White Plains, declaring $50 in assets and $1,350,576 in liabilities.
It says it owes $800,000 to New York State and $180,000 to the IRS.
According to the March delinquency report published by the state Department of Taxation and Finance, Silvio’s Italian Restaurant — not to be confused with Silvio’s Restaurant and Pizzeria in Thornwood — owed $588,179 for corporation, sales and use, and withholding taxes.
Owner Silvio DiMeglio opened his place in 2005 at 351 South Broadway in the Ludlow neighborhood. It brought in as much as $1 million in revenue in 2018, according to court records, and made $600,000 last year.
DiMeglio paid himself $35,000 in 2022, according to the petition.
This is Silvio’s second bankruptcy. In 2019, the restaurant filed for Chapter 11 reorganization, declaring $12,291 in assets and $799,000 in liabilities.
DiMeglio attributed the financial problems to “long ago incurring of substantial sales tax liability to NY State,” according to an affidavit. “There is also some payroll taxes liability.”
The state seized the business in 2019, according to DiMeglio, and locked him out.
The 2019 petition listed $410,000 owed to the state and $300,000 to the IRS.
The Office of U.S. Trustee asked bankruptcy court to either dismiss the case or convert it to Chapter 7 liquidation. Silvio’s had stopped filing monthly operating reports, attorney Greg M. Zipes told the court, had failed to pay quarterly trustee fees, had a bank account with a negative balance, and “appears unable to reorganize.”
Bankruptcy Judge Robert D. Drain dismissed the case in 2020.
Now, in addition to nearly $1 million in state and federal taxes, Silvio’s owes $265,000 to Con Edison, $96,000 in rent, and several small debts.
“Silvio, we all miss you so much,” an admirer stated on the restaurant’s Facebook page in February. “Life is not the same without your delicious food. Any plans on reopening?”
Another diner posted in March, “No other pizza does it for me here in Yonkers, please reopen.”
Silvio’s is represented by White Plains attorney Anne Penachio.
