Troys shuts down yesterday after serving campus 21 years

Troy's Restaurant & Deli, the popular student hangout, quietly closed yesterday as creditors forced owner John Kollias into liquidation. "I was at my limit," Kollias said. "I just couldn't do anymore . . . I don't have any money left." The demise of Troy's was not unexpected. In May 1990, the restaurant was closed for operating with an expired retail food permit. Kollias said problems began shortly after he reopened the restaurant in December 1990. He said he knew at the time that reopening the restaurant was an "unsound" business decision. "I kind of expected things not to work out," Kollias said. "I was just hoping everything would fall into place." But after the reopening "it was never really a business," he added. The restaurant filed for protection from creditors last September under Chapter 11 of federal bankruptcy law, giving Kollias about four months to reorganize. Kollias has since been unable to raise enough capital to stay in business. "It's all a matter of record [in the bankruptcy courts]," Saul Krenzel, lawyer for University City Housing, said. The realtor owns the building which Troy's occupies. "University City Housing is a landlord that hasn't been paid in a year," he added. "I can't comment beyond that." Kollias said the financial strain and uncertain future made it difficult for employees in the months following the reopening, prompting patrons to frequent other establishments. "When people come to Troy's they come to be cheered up, not to be depressed," Kollias said. But Wharton junior Alex Simons, who eats at Troy's several times a week, was upset when he learned of the restaurant's close. "Everyone's going to miss Troy's eggels," he said. "I'll probably miss the bad coffee, the good conversation and the so-so eggels." "I think it's sad," Engineering junior Gavin Andrews said. "[Troy's] was like the second Pennstitution." Though he is now taking life "each day at a time," Kollias said he would still "like to try to work something out for the seniors." "If someone came by, I'd be glad to talk to [them]," Kollias said, adding that though he is not open for business, he will still be at Troy's dealing with the liquidation. Kollias' parents opened the restaurant in 1970 on 39th Street between Walnut and Chestnut streets. Kollias took over operations in 1990. "[Troy's] certainly had a lot to give in the future," Kollias said. "We didn't outlive our usefulness at all."

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