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Payá restaurant closes its doors

Payá restaurant closed after eight years, posting only a sign on the door to announce the decision.

Contemporary criollo bistro Payá closed its doors abruptly on Tuesday, leaving only a note on the door of the restaurant located at City View Plaza in Guaynabo.

The trendy eatery’s closing comes just four months after Grupo Ferré Rangel, owners of El Nuevo Día newspaper, reportedly purchased it for an undisclosed amount from founder and Chef Wilo Benet.

A source told News is my Business that the restaurant’s owners handed out dismissal letters to Payá’s estimated 30 employees late Tuesday.

The 280-seat Payá restaurant was founded in 2003, and was Benet’s second eatery, joining the upscale Picayo. From the onset, Payá faced a number of challenges, especially when it came to its location, as it was not a high-traffic area. However, good food and good service created a following of young professionals.

Upon selling the business to Grupo Ferré-Rangel earlier this year, Benet was to stay on as consultant for at least six months. However, the restaurant closed before that part of the deal could be completed.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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