It was a well known “secret” that Grace struggled financially for much of its existence, accolades notwithstanding.
It wouldn’t be that difficult to Duffy to find investors–but that’s not what he wants. He wants control. 51% or more. Who is going to say “Hey, here, take this money but YOU get to make the decisions, not me.” Most people who sign the checks want to make the decisions. Unless Duffy has serious money of his own, I don’t know that many people who are just going to cede control. Do you?
I think Duffy has enough credibility with 3*** stars to be able to control his destiny. Obviously I don’t know his financial situation but he talks about creating a restaurant group. If you look at the Alinea group model where it seems Grant and Nick have pretty much complete control. (no clue as to what their investor base looks like). This is what Duffy needs to do. Not sure if he can financially… but I hope so as it would be great for the Chicago restaurant scene. Time will tell.
The number of two and three star financial failures far exceeds (by what a factor of two? Theee? Four?) the number of two and three star financial successes in Chicago. Please. Tell me I’m wrong.
I think people are mixing up the concept of the chef’s talent and ownership. Just because you’re the best doesn’t mean you get to own it. I heard via the inside grapevine the restaurant Came near to closing several times due to financial matters. It’s hard to make a worthwhile profit off 80 (or was it 64?) seats with high cost ingredients.
I agree that the talent of the chef doesn’t entitle them to ownership, and in this case he presumably entered a contractual agreement with an investor(s) and later decided that that arrangement didn’t work.
I’m more reacting to the “heard it through the grapevine” type commentary. That said, you’re probably much more connected than me and better to evaluate the likely truth of the rumors you hear.
It was a rumor but a rumor from people in a position to know. (An owner of another Michelin *** restaurant who loves them and was very concerned for them). But still a rumor.
Duffy made a comment in an interview yesterday that he is going to get through some legal issues and then open a restaurant in Chicago that will make Grace look amateurish.
He also mentioned he wants to create a restaurant group. Apparently he didn’t have enough money to buy out his current investors so that seem like a bold statement to me. We will see.
Just those comments speak to Duffy’s immaturity or lack of perspective. First for someone to say their new endeavor will make a Michelin *** restaurant look “amateurish” reflects childish behavior. (I mean how DOES one make a Michelin three star look amateurish anyway?) Second Duffy couldn’t buy one restaurant but now he’s going to start a group of restaurants. Riiiight…of course he is.
Umm… harsh, no? Those comment about Duffy seem presumptuous at best. Just because a restaurant is allocated 3 Michelin stars doesn’t mean it’s perfect or that it’s not capable of being topped. My own personal experience with using the Michelin ratings as a guide for dining, at least in the US, has been decidedly mixed. It seems like those sorts of statements are just part of the process of him moving on from what seems like a very messy situation, and for one I think it says something good of him as a chef that he can envision something even better than what he’s already achieved. I’ve never dined at Grace and as a non-Chicagoan hadn’t even heard of it or Duffy before this whole episode exploded onto the food scene news, but afterward this past week I read Kevin Pang’s profile of him for the Tribune and it was one of the best pieces of feature writing/food bios that I’ve read this past year:
All else aside, an amazing story and I for one will look to see what he does in the future with interest.
Switching gears a bit, we had a terrific meal at Wood last night, a perpetual Bib Gourmand selection on Halsted in Boystown. Jeannine and I have a fine memory of the space (we had our first date at a former restaurant that was in the site almost 26 years ago (Oh La La)). A fairly limited menus (7-8 starters, 7-8 mains), but all prepared expertly - last night’s cassoulet was outstanding. Interesting, if eclectic, wine list (including 4 or 5 Scholium’s), $20 corkage and fine stems.
Doesn’t make sense though. Why would you get rid of the 2 guys who make the restaurant to save giving them profit. 1/3 of something is better than 100 percent of nothing no ?
I’v never dined there due to there unfriendly attitude on corkage plus preceding reputation. I’m not into attitude. To be honest no one really knows what happened here. I would just say all 3 are coming out losers. Shows how important good partnerships are.
There are business people who want it all and don’t like to share or pay well but the situation is bizarre. We went 3 times and really loved the food. The service became really full of itself. Didn’t really like the wine program, though it got a bit better over time, but the “no corkage” policy was a turn off especially given the list in general.
It makes sense to disband the staff if the restaurant is losing lots of money. 64 seats, very high food costs, large number of kitchen staff, and servicing the debt on a place in which the chairs reportedly cost $1,000 each. If it’s going down the drain financially it’s not such a big deal to have the chef walk away. Walk away from what? A dream yes, money no.
We’re visiting Chicago in March, and looking for recommendations.
I’ve booked Oriole for one night, so we’re thinking that will be our high end dinner, and am looking for further suggestions, though not as expensive unless there’s a convincing case. We’re staying at W hotel Lakeshore so we’d like to stay within a reasonable Uber/transit distance. Beyond that, food is top priority, then service. A beautiful view is nice, but more bonus than feature, and we could do a noisy hipster place just not twice.
Sort of thinking Blackbird, Smythe, and possibly Elske or Topolobampo for something different.
Peter, I’d replace Topolo with Cherry Circle Room as a choice. Granted it is not the same food style, but, in terms of food, ambiance and the like, a superior experience I think.
For some less on-the-edge options, If you can get in, you may want to consider Girl and the Goat for the louder, hipster meal. Lots of fun options. Also, Sepia for a nice balance of food and wine.
Or, if you feel old timey French with a fine wine list, Les Nomades is walking distance from your hotel.