Breaking News

Ralph Lauren Pulls Out of Blue Parrot Deal

By T.J. Clemente

Ralph Lauren and his people, using an escape clause in the agreement, have pulled out of a purchase agreement they had to buy the Blue Parrot on Main Street in East Hampton, according to sources. Lee Beiler, who had sold off the interior of the local restaurant that was once behind the Ralph Lauren shop in East Hampton, is now in the process of finding a new buyer, after missing out on the 2007 summer season.

Inside sources say that the problem centered on outdoor seating capacity. Some hope that the Blue Parrot will resurface. However, our source claims this outcome is unlikely.

With the success of his Chicago restaurant, Lauren has apparently decided that the Parrot location has no potential for expansion. No one is sure what role the present credit crunch had on this deal, if any at all.

Assuming the above is true, one thing is certain - someone paid a year's rent on a prime location for the whole season without making a dime. Stay tuned.

Back to Contents