Yancy’s, Longbranch Saloon Bankrupt

Continuing the week’s theme on downtown recession, today we hear news that Yancy’s, a Fayetteville Street redevelopment staple, is bankrupt. TBJ reports that this week both Yancy’s and Longbranch Saloon filed for chapter 11 bankruptcy protection. Yancy’s debt is almost $270,000 and Longbranch’s approaches $480,000.

Yancy’s has offered solid live jazz and soul and a come-one-come-all attitude. The soul-food menu is quite good and quite reasonably priced. Fortunately the bankruptcy settlement does not mean either restaurant is closing so there is still an opportunity to show your support for a struggling downtown establishment. Yancy’s is an asset to Fayetteville street and it brings a rich cultural experience to the center of downtown. Here’s to hoping it can survive rough waters.

Rafe02/21 12:01 AM

Be careful not to massage the stories to fit a narrative. There are plenty of reasons for Yancy’s to be in trouble aside from any downtown recession. The food is mediocre on a good day, and as soon as the space was leased there were articles saying that it would be tough for any restaurant to be able to do enough business to support the kind of square footage they leased.

David02/21 12:10 AM

Agreed, I hesitated to put that line in. It is certainly a theme this week though, in local media channels. But I disagree on the food, it can be good, especially with one of their regular acts.

15002/21 07:27 AM

This is too bad. Yancy’s is one of my family’s favorite restuarants. They are always welcoming and we always feel good while we are there. I really hope that it can turn things around and stay open.

RaleighRob02/21 10:26 AM

I like Yancy’s but everytime I’ve been there, getting a table for dinner is an uphill battle (especially if you want nonsmoking section) due to the crowds. (They don’t take reservations.) And the service is definitely hit or miss.

brian_M02/21 08:54 PM

I could do a little research, but I do believe that when the owner of Yancy’s had, um, Yancey’s in City Market (where Woody’s is now), that he got the boot for not paying rent. This current situation should not come as much of a surprise to anyone.

Welcome to New Raleigh. We welcome your participation in the ongoing discussion. If you are new we invite you to register with our site. With registration you can upload a picture, message other users, and comment more easily. If you want to keep up with the site, subscribe to our RSS feed or get emailed every time we post.

David Wednesday, February 20, 2008