Manchester Pub in New York City; today it's filled with regulars and makes enough money to be profitable. Now Chan and Tang are looking to grow the business even more.While many people might fantasize about owning their own restaurant or bar, few actually do it -- and fewer still do it successfully. About four years ago, Lawrence Chan and Hudson Tang took a chance and purchased struggling
From finance to tavern
In the fall of 2007, Chan was entering the subway when his former high school mate Tang called from a ski lift in Salt Lake City. “He said, ‘remember that bar we were in? They’re selling it, and this is what they’re selling it for,’” says Chan. “And I said, ‘I’m in.’”
The current owners were struggling and didn’t want to do it anymore. “They were looking for someone who could keep spirit of Manchester, who appreciated the bar for what it was worth," says Chan.
Chan and Tang were only 27 when the transaction closed a little over a year later. Chan was working as an M&A banker atRead More »from Manchester Pub: Craft Beer, Wings and Soccer on the Menu