Tavern on the Green was once a bustling restaurant on the edge of Central Park. After raking in $38M in 2007, it easily became America’s second-highest grossing restaurant. Founded during the Great Depression era, it failed to survive the 2009 recession.

Tavern on the Green will be serving its last meals on New Year’s Eve. A new restaurateur, Dean Poll, is set to take over the place and a court decision whether or not Poll can keep the name of the restaurant is still in the process. Earlier, the New York City government has placed Tavern on the Green for auction after it filed for bankruptcy. Poll, who is the owner of Loeb Boathouse restaurant, won the bid.

Tavern on the Green has failed to pay its $8M worth of debt leading them to file for bankruptcy. It’s a sad end for such a famous location. The restaurant has served as backdrop to some classic films and television shows like Edward Scissorhands and Live with Regis and Kelly.

Warner Leroy, son of the producer of Wizard of Oz, took over the Tavern in 1973. Since his death in 2001, it is now being managed primarily by his daughter, Jennifer Oz Leroy, along with his wife Kaye Leroy.