What Is The Fate Of Southampton's Pink Elephant?

[Pink Elephant. Photo by Steven Ekerovich] Are the crazy nights of Pink Elephant coming to a close? According to City File, and their 36 pages of legal documents, Southampton's Pink Elephant filed for Chapter 11 "listing more than $2 million in debts, including $776,000 in back taxes." However, after receiving official word from Pink "Yen Group LLC, the company that has licensed the Pink Elephant name in Southampton, is going through a company reorganization," we're still trying to wrap our heads around this one. One thing's for sure, the Day & Night party is still ON this weekend and all summer long (the Chapter 11 debacle at Merkato 55 in the city was not enough to stop the Koch brother's party in NYC either). Bonus: photog Steven Ekerovich's Birthday is at Pink tomorrow in Southampton, click below for more...

"Pink Elephant is NOT going bankrupt..Yen Group LLC (the company that has licensed the Pink Elephant name in Southampton) is going through a company reorganization. I want to make clear that Pink Elephant is not filing for bankruptcy, and this does not have anything to do with the Pink Elephant venues in New York or Sao Paolo. Pink Elephant is a franchise, so every club is different and independent.

"Pink Elephant Southampton is profitable, and the company that licensed the name (Yen Group) is reorganizing to pay off debt from 2002."

Potato, PotAto:

So the company that has filed for bankruptcy is also playing host to the grand opening party of Day & Night tomorrow?

Crazy times we're living in....