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