Bill’s Gay Nineties Saddened By Bankruptcy

For Bill’s Gay Nineties in midtown Manhattan, the taps may finally have run dry.

“The original New York speakeasy” boasts four generations of customers who’ve enjoyed its hooch, even when the stuff was illegal. It claimed to be “unchanged and unspoiled” for 80 years since the first owner “boarded up the windows and opened the doors” of 57 East 54th St. to entertain and serve alcohol during Prohibition.

That was until the New York nightclub’s operator, Gay Nineties Realty Corp., filed for Chapter 11 bankruptcy last week, adding that it may be forced to abandon its historic location in order to keep the business open.

The restaurant, known more recently for its spot in the 2007 George Clooney movie “Michael Clayton,” claimed debts and assets each between $100,000 and $500,000 in its bankruptcy petition, blaming its change in fortunes on the economy and problems with its lease agreement.

The largest debt Bill’s disclosed in its filing was for $40,000 to landlord Tynker 9 and 12 LLC, according to property records. Lawyers representing Tynker 9 and 12 didn’t respond to request for comment Monday.

The restaurant filed for Chapter 11 bankruptcy protection because of what it “believes is the bad faith conduct of the debtor’s landlord in its negotiations for a commercial lease extension and subsequent filing of a holdover proceeding as well as the difficult climate facing New York restaurants since the great recession began in 2008,” according to court documents. “The debtor plans to either negotiate a lease extension or move its operation to a nearby location.”

The owner of Bill’s Gay Nineties and the lawyer representing the restaurant didn’t return request for comment Monday, but a restaurant employee did confirm that Bill’s was operating as usual.

The first creditors’ meeting is scheduled for Dec. 29.