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It looks like Mr. Beef is in danger of closing. Although it has never been one of my favorite beefs in town, it would still be a sad commentary on these times to see them go.

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Steve Z.
Photographer/Pseudojournalist

"The only time to eat diet food is while you’re waiting for the steak to cook." - Julia Child

hard to understand how a place that's been around for that long has such money issues...i'm guessing there's more to this than the standard food cost, not enough business type issues.

a report i read said that they're in debt more than $650,000 to vendors. With the food they serve, that's gotta be at least a year's worth of purchases.

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http://edzos.com/
Edzo's Evanston on Facebook or Twitter.

Edzo's Lincoln Park on Facebook or Twitter.

The article indicates some portion of the loans taken on Mr. Beef's building weren't actually for Mr. Beef, but to open Natalino's.

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-Dom
www.skilletdoux.com

ah. my bad. i read a short blurb earlier today and didn't bother to click the link above. now that i've read the longer article, it makes more sense.

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http://edzos.com/
Edzo's Evanston on Facebook or Twitter.

Edzo's Lincoln Park on Facebook or Twitter.

If the revenue streams at Mr. Beef and Natalino's are as strong as they are described in the article by their owners, why wouldn't the banks wouldn't want to re-finance the loans? Obviously, many details are not being disclosed but I can't imagine any bank wanting a vacant piece of real estate (or choosing one over repayment) at this point in time. For many banks, real estate is a 4-letter word these days. Wouldn't they rather have the loans paid back? That seems entirely realistic if both these restaurants are still doing decent business. I guess they feel the owners cannot make good on the loans and that current value of the real estate will cover their exposure.

=R=

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I just wanna live until I gotta die. I know I ain't perfect but God knows I try. --Todd Snider

Twitter: ronniesuburban