NEW YORK Citing the recession and a lease dispute, the Cipriani family, which has managed the famed Rainbow Room for the past 10 years, will temporarily shut down operations at the establishment’s Rainbow Grill restaurant on Jan. 12.
According to Cipriani spokesman Ben Branham, only the bar, banquet hall and ballroom will remain open for business.
About 40 employees are expected to lose their jobs as a result of the closing.
The New York Daily News reported that Tishman Speyer, the Rainbow Room’s landlord, had doubled the rent to $8.7 million a year.
“Due to the current economic crisis in New York and around the world, on top of an ongoing dispute with our landlord, we, like many companies in the hospitality industry, have been forced to re-evaluate our business decisions,” the Ciprianis said in a statement. “We will be exploring several options to maintain Cipriani’s continued presence at the Rainbow Room. Above all, our top priority is ensuring the financial viability of the Rainbow Room so that New Yorkers can continue to enjoy one of the city’s most treasured landmarks.”
The Rainbow Room, which is located on the 65th floor at 30 Rockefeller Plaza, has been among New York City’s iconic establishments since its opening in 1934. It quickly became known as a tourist attraction and an elegant space in which to celebrate special occasions.
In the 1980s renowned chef Waldy Malouf, now co-owner and executive chef of Beacon restaurant in midtown Manhattan, was hired to spruce up and modernize the Rainbow Grill. At that time, veteran restaurateurs Joe Baum and David Emil operated the restaurant. The Ciprianis, owners of the Cipriani restaurant company, took over management of the Rainbow Room in 1998.
