Yancy’s Files for Bankruptcy; Sign of Things to Come Downtown?

yancy.jpgDowntown Raleigh has taken its first major hit since the opening of Fayetteville Street. Yancy’s, the restaurant and jazz club that some say is one of the keystones to the downtown revival, filed for Chapter 11 bankruptcy protection yesterday according to the Triangle Business Journal. Pursuant to the provisions of Chapter 11, Yancy’s will remain open while it works to reorganize and resolve its debt load. However, this is a sad moment, as this particular establishment is all-too-obviously struggling. At over 10,000 square feet, I wonder if the space was too large. And although co-owner Harvey Yancey is an iconic figure in the Raleigh food and music scene, he has had difficulties at his prior places.

I hope Yancy’s makes it. I suspect that this may be a sign that the bad economy is affecting our restaurant scene, but if you want to make sure that we have a good place for jazz and food, you better haul your butt to Yancy’s, or it’ll be gone soon.

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7 Responses to Yancy’s Files for Bankruptcy; Sign of Things to Come Downtown?

  1. Perhaps it was because the food was not all that fabulous.

  2. VaNC says:

    The article in the paper today explained the reasons behind thie filing…apparently it is just the lease partners and not the restaurant partners? I agree, the food was not “fabulous” but I always have enjoyed myself at Yancey’s. It was a place I often took a crowd, as the food was accessible (my Dad could understand the menu) and the mood of the place was always fun. I also saw some great music there. Another thing in Yancey’s favor, was that it is one of the few truly integrated establishments that Raleigh has. I, for one, hope he makes it.

    Yancey’s is the perfect place, too, for the convention crowd. You know, you have about 10 assorted people who want to go out and have fun. The menu would be recognizable for all and the mood of the place is celebratory. If he can just hold out til the CC opens, I think he will be fine.

    And on Varmint’s topic of “chef owned restaurants”, I can say that I rarely went in there that I did not see Yancey working the crowd. He often sat at our table and made sure we were happy, often to the point of sending people back for things for us. It made me want him to be successful and to support him.

  3. catena says:

    Maybe people will learn from this that you can’t build mega restaurants downtown and expect success.

  4. RayRoadie says:

    I never had a chance to try the food. After paying our cover charge we were only then told there would over an hour wait for a table – oh, and they didn’t accept reservations for a party of four anyhow. We asked for our cover charge back. Apparently the only person with the authority to give us our money back was a large, intimidating man whose attitude to the whole situation was a bit questionable. Eventually we got our money back and left. The man came after us on the sidewalk, waving something. A comp for free apps as an apology for their attitude, perhaps? Hardly. It was a takeout menu. No way were any of our party going back there.

  5. Mike says:

    I’ve walked by Yancy’s a number of times on my way to Raleigh Times or Moore Square and never stopped in. After seeing this post I stopped in to see what was going on. No live music tonight (pretty much expected on a Monday) but looked at the music lineup they had later on in the month and was glad to see that alot of the week they do have live music of some sort. Got a poboy and some gumbo. Nothing to write home about, but not horrible either.

    And then I got the check and noticed a 20% gratuity added in. Seriously? A 20% automatic gratuity for a solo diner? When I asked the bartender about it she said they added it to all checks after 9pm. Nevermind that I walked in at 8:30, ordered at 8:40 and probably had my food prior to 9pm as well. It may have said it on the menu (why in the world would I look for that?) but I don’t remember seeing it. I don’t think I’ve ever heard of a bar/restaurant/club/whatever adding a 20% gratuity to all checks (yeah, large groups I get) after a certain time.

    There music might be great, and I certainly applaud them for hosting msuic often; however, I seriously doubt I’ll ever be going back. There are plenty of other places to go downtown that don’t feel the need to tack on an automatic 20% gratuity. I’m sure they have a good reason for it, but it certainly rubbed me the wrong way.

  6. A well-run restaurant is like a winning baseball team. It makes the most of every crew member’s talent and takes advantage of every split-second opportunity to speed up service.

  7. Elliott says:

    My wife an I have gone to yancey’s on several occasions, the food was ok but the environment was what impressed us. We really enjoyed ourself, and we hope their able to continue.

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