High-end steakhouses have been hit hard during this recession, as both consumers and businesses rein in their spending on big-ticket meals. In New York City, the pain has been particularly acute, as steakhouses watched Wall Street expense accounts melt with the market’s implosion, and many corporations eliminated their pricey holiday parties, stunning even the most veteran of restaurateurs. Stephen Hanson, president of B.R. Guest Restaurants, a multiunit operator of many high-end ...

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