Four-star restaurant enters Chapter 11

Email | Print By E. Thomas Wood

03-20-2006 10:37 AM — The company that operates The Wild Boar Restaurant has filed for bankruptcy. Z-1 Acquisition Corp. filed a petition for Chapter 11 reorganization on Friday in Nashville's U.S. Bankruptcy Court.

The Wild Boar, opened in 1993 by the late Tom Allen and now run by his son Brett Allen, has enjoyed a national reputation for both fine dining and a top-quality wine list. The restaurant holds a Mobil Four Star ranking and a AAA Four Diamond ranking, and it has received the Grand Award of Wine Spectator every year since it opened. Just a few months ago, it hired acclaimed chef Colin Quirk, formerly of The Four Seasons in Atlanta.

The Gayot restaurant review site offers some hint of where The Wild Boar's problems may lie. The reviewer is effusive in praise of the wild Tasmanian abalone, Georgia quail, prosciutto in black truffle vinaigrette and other dining choices available at the restaurant, as well as its wines. "Prices are very high for Nashville, but if you’re accustomed to fine dining prices in New York or Los Angeles, you’ll be pleasantly surprised at what the meal of a lifetime costs here," the review concludes.

So far, so good. But a click on Gayot's list of the "Hot 10 Restaurants" in Nashville brings up the names of The Acorn, Mambu, Tayst, Ru San.... the new hip places, in other words. Some older stalwarts of the local dining scene do make the list, such as Capitol Grille and Zola. But the Boar, stars or no stars, is not to be found.

Brett Allen issued a statement over the weekend announcing the filing. "Rising costs have strained our cash flow and led us to seek Chapter 11 protection," he said. "We fully intend to work through the reorganization process to adapt our business model to the changing Nashville market."

The petition indicates that Z-1 does expect to have some funds available to pay unsecured creditors, of which there are fewer than 50. It estimates company assets to be in the $100,000-$500,000 range, with debts in the range of $50,000 to $100,000. Some of the assets are liquid, but perhaps not in the financial sense: The Wild Boar's wine cellar holds some 15,000 bottles of top-flight vintages.

An initial meeting of creditors has been set for April 21. Robert J. Gonzales of MGLAW, PLLC represents the debtor.