Quantcast

The DNAinfo archives brought to you by WNYC.
Read the press release here.

Possible Cipriani Auction Has Investors Salivating

By DNAinfo Staff on August 28, 2010 10:01am  | Updated on August 29, 2010 9:54am

Cipriani is fighting to keep its inventory from being auctioned.
Cipriani is fighting to keep its inventory from being auctioned.
View Full Caption
Sara Jaye/Getty Images

By Nina Mandell

DNAinfo Reporter/Producer

MANHATTAN — Facing $4 million in debt, Cipriani has more than just expensive food on the menu.

Investors are eyeing a Sept. 7 auction, where they can pick up the inventory from two Cipriani locations — including prized recipes, fixtures and decorations, the New York Post reported.

The inventory from the 42nd Street and Wall Street locations won’t be touched, according to the Post. But everything from the other two locations is being looked at by investors already.

Cipriani filed papers against Capitol One Bank to block the auction, the restaurant’s lawyers told the Post. The bank has already seized more than $600,000 from bank accounts related to the business.

"It's great that everyone values Cipriani so highly, but there is no auction. We're focused on our customers and staff and providing our unique, highly-valued Cipriani experience," spokesman Matthew Hiltzik told the paper.

Meanwhile, investors are eager to fest on some of the items up for sale.

"I hate to feed on someone's misfortune, but I'm interested in their antique clocks," Don Chetkin, who runs a New Jersey gallery, told the Post.