Town Sports International is in talks with its lenders to refinance a loan coming due this fall as its cash flow and liquidity continue to tighten, the company said in a regulatory filing Tuesday. The gym owner and operator said it doesn’t have enough cash on hand to repay the debt when it comes due in November.
The company missed a payment on its revolver last month, violating terms of the debt. Lenders could send the company a notice of default and demand immediate repayment of all obligations, but none has done so yet, Town Sports said in the filing.
New York City is facing record low Census response rates, especially in low-income areas and communities of color. For every 1 percent of the population missed in the 2020 Census, New York City could lose nearly $7.3 million in federal funding for public education.
With the next Census 10 years away, that means more than $70 million dollars that our city’s public schools could be deprived of over the next decade, with more than $4 million dollars lost to NY-12 alone. A 1 percent undercount also means NYC could lose $3.7 million per year for critical jobs programs. That’s nearly $40 million lost over the next decade for services like career counseling, mentoring, and apprenticeship.
Spearheaded by the #WeMakeEvents coalition, the #RedAlertRESTART campaign seeks to bring awareness to the dire situation live music faces if Capitol Hill does not supply support for venues that have been shuttered since mid-March in order to slow the spread of COVID-19.
Pop’s Eat-Rite is a plant-based fast service burger joint, opening on St. Mark's Place in September 2020. We will serve a classic smashburger, made using Impossible Meat. Our meatless menu is our updated take on a classic burger stand, with fries, veggie sides, vegan donuts, soft-serve, smoothies and frozen lemonade and will be entirely free of animal products.
Pop’s was born from the idea that the landscape of the restaurant industry has changed suddenly and like never before. In these times we want to offer our neighborhood a convenient, responsible product at a fair price...
On June 2, at approximately 1 a.m. our 14th Street location got broken into and robbed. After business being closed for almost 8 weeks due to the current pandemic this strains our financial situation even more.
This restaurant is our home away from home, our provider. Not only to us but to our Family and Friends who have been with us since the very beginning. Our hearts are shattered with the realization that we could potentially close down permanently.
The pan pizza "is terrific — the crust dark and crackly around the edges, the tender crumb boasting the kind of webby, widely inscribed holes that hint of long fermentation. Manco attributes its texture to high-hydration dough that lazes about developing flavor for a whopping 96 to 110 hours, and the blend of flours he uses: wheat, soy, rice, and semolina."
As we start gearing up for the fall season and indoor months to come, Cooper Square Committee is hosting a workshop for tenants, especially parents of young children, on staying lead safe at home.
Due to the ongoing COVID-19 pandemic, it seems likely that parents and young children will spend more time in their apartments in the coming months, potentially increasing their exposure to lead hazards in the home, like dust and chipping or peeling paint.
Join tenants, advocates, and organizers for a workshop on the ways in which tenants can fight back against lead exposure in their buildings!
Co-owner Daniel Abrams and partner Cindy Smith decided to close the restaurant in the wake of failed attempts to reach a workable rent deal with the location's landlord amid the ongoing COVID-19 crisis.
"The situation is untenable," Abrams says in a phone interview. "The PPP has run out. There's no money to pay landlords. We go to landlords like beggars hoping they'll give us a handout."
We are sharing this information to illustrate what ONE SINGLE RESTAURANT adds to its community and to the city. Many restaurants have closed since COVID and many more will close as the pandemic continues. The ripple effect will be incalculable.
Over the years The Mermaid Inn on Second Ave has:
• Welcomed over 850,000 guests
• Paid over $15M in wages to our more than 3000 employees who have spent Ime with us
• Contributed more than $2.1M in taxes to the city, the state, Medicare, SS, UI, etc
• Sent in excess of 4M in Sales Tax to NYS
• Paid over 15M to our hundreds of hard working vendors
• Given hundreds of thousands of dollars to the city and state for permits, licenses, etc
We are providing these numbers to show the effect the closing of a SINGLE restaurant has. Now mulIply that by THOUSANDS of NYC restaurants closing. The loss of opportunity for employees, the loss of income for city, state and local governments, the loss of sales to our fish companies, our vegetable company, the linen company, even the company that comes to take our used oyster shells or our discarded grease. If we don’t pay them, they do not pay their employees and so on and so on. The chain is never ending.
