100 King Update

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This from a recent edition of Local Kicks

We recently contacted the Neighborhood Restaurant Group to verify the rumor that they might be taking over 100 King Restaurant in Alexandria. Amber Pfau, the PR person for all the Neighborhood Restaurants confirmed that they were indeed consulting for 100 King but that there is no acquisition in the works in time being and they don’t anticipate any more discussions till the fall.

100 King is in a difficult situation. 100 King has filed a bankruptcy petition in March 6th, 2008 after BB&T moved to foreclose on the Restaurant after they defaulted on their 3.5 million dollar loan.

Since then, Steve Tedeschi, a principal in New York’s One Group, which owns the renowned restaurants STK-NY and a friend of owner Peter Malios, has moved in and has been making significant changes that have revived the Restaurant’s business. They changed the restaurant to a prime steak and seafood house (they are in the process of changing the name to 100 Prime). They started featuring great local music bands on Thursdays and on the weekends. And recently, they have changed their menu to include a $10 dollar lunch option that would include half a sandwich, a soup and chips. They have also added a $79.00 dinner menu for 2 that would include a bottle of wine. Finally, they have also added Wii bowling nights.

Steve and his management team (he has brought a great team) have done so much in a very short period of time to revive the place. They are turning a corner but at the end of the day it will come down to the bankruptcy court’s decision of whether the bank can foreclose on the property or if 100 King can continue its operation.

We really hope 100 King can survive this. The last thing we want to see is another big chain taking over the space. Please visit 100 King and try to support them. I think you will find their happy hours, unplugged band nights and the food and service very satisfying.

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