Bice, an institution on East 54th Street for the past quarter-century, nearly shuttered last year as a weak economy devoured its once-bustling business, saddling the pricey trattoria with a plate full of debt.
The restaurant fell behind on rent, vendors' bills and taxes. It was a bitter pill for founder Roberto Ruggeri, who had built an international empire based on the popularity and reputation of the midtown eatery, the launchpad for some 30 Bices around the world.
“I was either selling Bice or closing it,” said Mr. Ruggeri, president of the U.S. and international operations. “My financial difficulties were too great.”
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