Tilman Fertitta Buys Fireman Hospitality Group for $22 Million, Rescuing Key NYC Restaurants
The deal saves Trattoria Dell’Arte, Fiorello’s, and Bond 45, while the fate of other Fireman properties remains uncertain.
Landry’s Inc., the restaurant group owned by Texas billionaire Tilman Fertitta, has agreed to purchase the bankrupt Fireman Hospitality Group for $22 million. The acquisition is expected to secure the future of three of Fireman’s most well-known Manhattan establishments: Trattoria Dell’Arte, Fiorello’s, and Bond 45.
Trattoria Dell’Arte is situated across from Carnegie Hall, Fiorello’s is near Lincoln Center, and Bond 45 is located on a block with three Broadway theaters. The deal, anticipated to close this week, will place these venues under Fertitta’s control.
However, the status of six other Fireman properties remains undecided. These include Paris Bar and its rooftop venue Le Jardin in the Le Meridien Central Park Hotel, Brooklyn Delicatessen, two Manhattan branches of Brooklyn Diner, and Fiorella Kitchen in National Harbor, Maryland. Sources suggest these remaining locations may be closed by Landry’s or have their leases sold.
Fertitta’s initial offer for Fireman Hospitality Group was $9 million, but a bankruptcy judge reportedly required an offer for the entire company. This led Fertitta to more than triple his bid, especially with other interested parties, including former Fireman Hospitality CEO Ben Grossman, in contention.
Fireman Hospitality Group filed for Chapter 11 bankruptcy in August, facing challenges that were exacerbated by the COVID-19 pandemic and the death of its founder, Shelly Fireman, in October of the previous year. The company had accumulated nearly $10 million in secured claims. RedEye Grill, a 30-year-old establishment known for its seafood, ceased operations in July.
Tilman Fertitta, who also owns the Golden Nugget casino in Las Vegas and the NBA’s Houston Rockets, is expanding his hospitality portfolio. He also holds a stake in New York’s Catch Group and has made individual investments in establishments like Keen’s Steakhouse. Fertitta is also serving as the U.S. ambassador to Italy.
Landry’s existing restaurant holdings include popular brands such as Morton’s, Mastro’s, Del Frisco’s, Strip House, Dos Caminos, and Blue Fin, many of which have a significant presence in Manhattan.