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Wednesday, July 8, 2009
Pearl/Akoya indeed closed

Scott Stein, one of the partners in Pearl and its restaurant partner Akoya (1904 Chestnut St.), has confirmed that the operation has shut down after 16 months.

Last month, the days of operation were scaled back and the restaurant was listed on hiatus.

"Conceptually, having a fine dining restaurant on one floor and a luxury lounge on another is challenging," Stein wrote in an e-mail. "However, the lounge took off from day one but the restaurant was inconsistent and fell into the Friday and Saturday night category and the business model was not working. We rebranded the first floor Akoya, much more approachable pricing and had a lot of positive feedback but the stigma with the masses was we are a lounge with good food. ... I would like to thank a great staff on behalf of myself, David [his father] and Sean [his brother] who had to deal with drama and false rumors on a daily basis. Most of our staff was with us since we opened."

The corporation behind Little Pete's, the previous occupant of the space, still owns the bricks.
 

Posted by Michael Klein @ 4:53 PM  Permalink | File Under: TableTalk | 4 comments
Comments   
Posted 04:42 AM, 07/09/2009
Appleman
It is a shame that these restaurant and lounge venues are closing left and right. I hope all of the employees find some work quickly.
Posted 11:39 AM, 07/09/2009
phila1
Not surprising. Their old spot Red Sky was tragic, the partners split and Pearl fails and Strongbox is closed for the summer (read: never opening again). Nice work with all of your cornball, jersey-centric establishments.
Posted 02:55 AM, 07/10/2009
Appleman
Jersey Centric sounds very appropriate. Why can't we get some decent venues that scream "Philly" around here?
Posted 08:37 AM, 08/02/2009
SimplePlan
As posted in another spot, these guys still owe people lots of money for Pearl. Contracts broken, promises not kept, personal assurances with each one of the Steins not honored. Typical business with a number of partners that start something, split up, then leave people with the bill.
4 comments
About Michael Klein
Michael Klein chronicles local people, places and things (in easy-to-digest portions) three days a week in his Inquirer column "INQlings." He also covers the restaurant scene in his Thursday Food column, "Table Talk." See his work at http://www.philly.com/inquirer/columnists/michael_klein.
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