Expert: Celebrity Operator Must be Vigilant

ROSEVILLE, CA—Hardly a week goes by without news of another celebrity restaurant operator who is having trouble with his landlord. Is the celebrity tenant at a disadvantage, as compared with a non-celebrity, when it comes to negotiating with the landlord? We chatted with Jim Haslem, a principal with Huntley, Mullaney, Spargo & Sullivan Inc., a real estate and financial restructuring firm, on the subject.

According to Haslem, if a high profile restaurant operator, such as Gordon Ramsay or Bobby Flay, has difficulty with a lease or his landlord, you’re sure to read about it in the press. “That coverage may imply that celebrity tenants actually are at a disadvantage in dealing with their landlords.”