We're writing today to give you an update on the status of Gage & Tollner Hospitality LLC. We've waited until now because we had hoped to give you some definite news about our reopening plans, and there have been times in the past few months when such an event seemed to be right around the corner. Now, though, we must admit that while we are confident it will be possible to reopen at some point, we don't yet know when that will be.

Here is the current state of affairs: Gage & Tollner laid off all staff on March 15, 2009, the day we were supposed to open to the public. We don't need to explain to you how heartbreaking this was. As it became obvious that we wouldn't be reopening anytime soon, we returned what inventory we could. Our landlords offered us an extraordinary deal — they suspended all rent charges until we are able to reopen the dining room, or until August 31, whichever comes first. We haven't heard of any other restaurant tenants whose landlords have been as generous and sensible

We applied for both the PPP loan and the EIDL loan, but because our business is relatively new, we didn't qualify for the PPP, and we received only $8600 from the EIDL — a $6000 grant and a $2600 loan. (The additional restaurant aid being debated by Congress, the RESTAURANTS Act, would also exclude Gage & Tollner in its current form.

So today, Gage & Tollner is in a kind of financial deep-freeze. We're not incurring any significant debt right now — basically, the only bills we're paying are insurance and utilities. We're in stasis, waiting to see what happens next. We have funds to reopen when it's time, but we can't afford to reopen prematurely and close down again, so we must be prudent. The good news, though, is that our exceptional core team is still in place and wants to come back when the time is right. As a group, we have a weekly Zoom cocktail hour to stay connected and, as you may have noticed, our kitchen team has remained active cooking for various charities. We are also in the space frequently to check on things, and Ben has picked up his hammer again and will be chipping away at the upstairs dining rooms.

Back in May, restaurateur Danny Meyer predicted that his restaurant dining rooms wouldn't reopen until there was a readily available vaccine. As bad as things were at the time, this prediction still seemed abundantly cautious. But as we learn more about the coronavirus and how it works, Meyer's prediction seems eminently reasonable. NYC's outdoor seating has been extended through October, and many industry watchers think that indoor seating may not be allowed until that provision expires.

Even if the government comes up with more industry aid, many restaurants in New York City and around the country will close this year. The Good Fork is currently closed, and Fort Defiance is in the process of converting into a gourmet grocery / general store. Nevertheless, we remain utterly convinced that Gage & Tollner will survive the COVID era. First, it's well-suited to COVID-era dining, with high ceilings and lots of space to physically distance tables. Also, the experience of dining at Gage & Tollner is completely unique; we believe it has no analogue, and will not suffer from generally reduced consumer spending the way other restaurants will. Brooklynites will always have birthdays and anniversaries, and we believe they'll still want to celebrate them with us — eventually.

So that leaves us here. Gage & Tollner is simply waiting for its moment to be reborn. It still looks gorgeous inside, frozen in time right before opening night. We will continue to monitor this rapidly changing environment, and we'll check in with you again when we decide it's prudent to move forward. Thank you all for your well-wishes and your patience over the last few months. We truly appreciate it. We hope you and your families are in good health, and are making it through these very unusual times.

Yours,

St. John, Ben, and Sohui