NEW YORK CITY-The French Mediterranean restaurant, Terrace in the Sky located over Butler Hall at 400 W. 119th St. has been forced to file for Chapter 11 bankruptcy due to back taxes owed to federal and state. According to the filing, the company ought to pay $100,000 to the New York State Department of Tax and Finance and $50,000 to the IRS.
The company also owes $87,000 to Columbia University, the landlord. The restaurant will be opened during the reorganization for business.For the full story, go to Crain's New York Business.
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