Rick’s Steaks, Not So Much


The Daily News has the latest on the Rick’s Steaks vs. Reading Terminal Market and it doesn’t look good for Rick:

Judge Bernstein ruled in an order issued Feb. 20 that Rick’s Steaks failed to provide evidence in its lawsuit, filed July 30, of terminal-market-management misdeeds, including breach of oral contract, fraud and failure to negotiate in good faith.

Bernstein said that although Rick’s Steaks said an agreement on the “material terms” of a new long-term lease had been reached, Rick’s never detailed what those lease terms were, either in number of years or in rental amount.

Bernstein also said that Tony Luke’s had done nothing wrong.

He did allow Rick’s complaint that Olivieri had suffered monetary damages because of the alleged breach of the oral contract to go forward, but proof of actual loss is required to be detailed in further proceedings.

So it’s not over yet.

Rick’s Steaks dealt setback on Reading Terminal Market dispute [Daily News]