The restaurant was decorated with bas-reliefs of U.S. Presidents on its stained-glass façade and the Gettysburg Address written in bronze near the front door.

John M. Taxin, the last owner's grandson, bought it with partners Hyman B. Sichel and Jimmy Retana in 1945, according to city records.

At a hearing on April 29, 2009, Judge Eric L. Frank agreed with most creditors and the U.S. trustee that converting the case to Chapter 7 – liquidating its assets under court supervision – would not be productive because of the high administrative costs.

Albert A. Ciardi III, the restaurant's bankruptcy attorney, said in May 2009 that two interested parties had come forward in the previous month, but that no sale had taken place.

In late 2017 and early 2018, Garces Group was sued for payment by vendors, investors, and a landlord, indicating financial trouble.

[12] Ultimately, Garces Group was acquired by Louisiana-based hospitality company Ballard Brands in a sale that was approved by the bankruptcy court in July 2018.