The Pier View at 1 Van Der Donck St. in Yonkers closed after filing for Chapter 7 bankruptcy March 9.
The 3,900-square-foot restaurant, bar and lounge closed for multiple reasons, according to Anne Penachio, attorney at Penachio Malara L.L.P. in White Plains, who represented the owner, Chairman and CEO Thomas Philp.
“I think it was a combination of things directly precipitated by the inability to meet operating expenses, preceded by friction with the landlord and the city of Yonkers,” Penachio said.
Tension with the city centered on operating hours and a “perceived lack of support for the waterfront, either in grants, tax abatement and incentives,” she said.
David Simpson, Yonkers Mayor Phil Amicone”™s spokesman, said, “For the city and this administration in general, developing the waterfront is one of our top priorities. The mayor has done everything he can to support local business development. In economic times, some businesses fail and some succeed. There is only so much the city can do; in the end there has to be a good business plan and model.”
The Pier View operated under the name Yonkers Pioneer Group Inc., which Penachio said summed up the owners”™ vision at the time the restaurant opened. Â
“They went down there when it was empty, invested a lot of time, energy and money,” she said. “They had no idea the winters would be so dismal and the lack of foot traffic would be what it was.
“They expected area apartments to be rented by those that would spend money and I”™m not sure what the status of the water taxi was, perhaps it helped slightly, but it was an all-around disappointment for them,” she said. “They”™re hopeful the waterfront will turn around.”
Yonkers Pioneer Group”™s bankruptcy petition stated it had 50 to 99 creditors, estimated assets of $100,001 to $500,000 and estimated liabilities of $1 million to $10 million.
Philp opened The Pier View in September 2004 with brother Tim Philp and business partner Brian Martin. At the time the restaurant opened, the business partners owned and operated Metro 53, Bar Room and Metro Loft in Manhattan. At press time, no comment was available regarding the current status of those three operations.
