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The Four Seasons Restaurant is closed. Is the power lunch dead?



Alex of Bidder, Managing Partner of Four Seasons, told CNN Business on Saturday that the 60-year-old upscale restaurant company was unable to hold its clientele, and its investors "lacked the confidence to do so for another Forty years ago, The Four Seasons became known as the focal point for Wall Streeters, publishers, film producers and other executives who wanted to do business between lavish decor and seasonal fare.

In a 1979 article in the Esquire magazine, the term "power lunch" was used to describe the midday meetings. The phrase and its association with the Four Seasons remained for decades.

However, the restaurant lost its home in the Seagram building on Manhattan's Park Avenue when its lease expired in 201

6 for $ 30 million to relocate the hotel a few blocks away, and it reopened in August – but it lost a lot of its customer base, Bidder said to us, "said Bidder." People ate [at the Four Seasons] two or three times a week. Then it was over for two years. They became unfamiliar. "

He added that the idea of ​​the power luncheon has changed dramatically over time," and the crowd that used to take extravagant lunches regularly "is on the rise in their old age .

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Also the number of people booked in the restaurant Parties and events have fallen. And Bidder acknowledged that Four Seasons prizes are unaffordable for many guests: the current list of lunch specials includes a tuna burger worth $ 36, the cheapest option, and a poached halibut worth $ 56. Dinner starts for mushroom ravioli at $ 40.

"We saw no clear path with the current sales," said Bidder.

His longtime business associate Julian Niccolini was reportedly forced to resign December after a two-year vacation out of business due to allegations of sexual misconduct. Bidder said on Saturday that Niccolini's behavior was "unacceptable" and that the Four Seasons "had no choice but to make a change". He said it was "everyone's business" how much the controversy had affected the restaurant's business.

According to The Times, Niccolini pleaded guilty in March 2016. He told the newspaper last fall, "It's something from the past." CNN Business failed to reach Niccolini on Saturday for comment.


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