Rick’s Out At Market

On a day when fireworks were expected in the opening of the court case between Rick’s Steaks and the Reading Terminal Market it turns out Rick’s has quietly lost its case.

Rick’s Steaks appears to have lost its battle to stay in the Reading Terminal Market. A judge has ruled that market management has the right to refuse to give Rick a new lease (see related story).

Rick Olivieri and Terminal Market management were expected to be in court on Monday, with their attorneys arguing over some remaining issues in this long-running dispute. But Judge Mark Bernstein on May 9th quietly issued the key ruling — a summary judgment that the Market has the right to refuse to offer a new lease to Rick’s Steaks.

UPDATE: Rick’s Steaks has reached a settlement with RTM and will be out of the market by October 31st. [Philadelphia Inquirer]

Judge’s Ruling a Setback for Rick’s Steaks [KYW 1060]