A small Italian restaurant in Larchmont has petitioned for bankruptcy protection for the second time this year.
Augie’s Italian Restaurant Corp. declared $49,150 in assets and $294,354 in liabilities in a Chapter 11 reorganization petition filed on July 5 in U.S. Bankruptcy Court, White Plains.
“Current financial difficulties stem from a drop in business,” vice president Drew R. Figueroa states in an affidavit, and bankruptcy will give it “breathing room to reorganize.”
Augie’s leases a space on Chatsworth Avenue near the Larchmont train station. It features “Italian home cooking” based on recipes handed down through generations, according to its website, and generous portions served in a casual setting.
Figueroa’s mother, Angela, owns Augie’s.
The restaurant previously petitioned for Chapter 11 protection on March 16. But IMS Fund South, a Manhattan company that paid Augie’s $50,000 in exchange for $69,000 in future revenues, asked the court to dismiss the case. IMS argued that Augie’s bankruptcy papers contained inaccurate and incomplete information that left the court and creditors “in the dark.”
U.S. Bankruptcy Judge Sean H. Lane dismissed the case on June 5.
Records filed in the new case show that revenues have steadily decreased, from $742,297 in gross receipts in 2021 to $560,000 in 2025. As of July 5, the restaurant had booked $213,000 this year.
The main financial issue, according to Drew Figueroa, is $64,735 in back rent owed to J.S.A. Realty, of Wyandanch, Suffolk County, that Augie’s intends to cure in bankruptcy.
He depicted $57,664 owed to the IMS Fund as the product of a usurious loan that Augie’s “does not intend to pay.”
Augie’s also owes $36,000 to Pelville Coffee and Pastry, of Pelham, $28,900 in employee wages, $13,000 to the Internal Revenue Service, and $8,214 to the New York State Department of Taxation.
The restaurant’s meagre assets consist mainly of tables, chairs, fixtures and kitchen equipment.
Augie’s is represented by Harrison attorney H. Bruce Bronson.
Dining and Cooking