6. The World Restaurant Is Shut Down - February 25 2003
You wouldn't think a restaurant would cost a company so much, but the WWE World Restaurant was no ordinary eatery. It was a prime piece of real estate, right in the heart of Times Square, New York City. Vince McMahon leased the space in 1999, taking up the first floor and underground of the Paramount Theatre building. It was a considerable size, with a retail complex, restaurant and nightclub area across the two floors. The WWF would regularly hold screenings and live events at the premises, but it was considered an overall failure. That resulted in Linda McMahon announcing the closure on February 25th 2003. The financial losses from that were tremendous. The company posted a loss of -$19,455,000 for 2002-03, which was attributed to the failure and closure of The World restaurant. Wrestling profits had actually been $16,362,000, but The World losses of $35,557,000 dragged the company into the minus. This financial kick to Vince's wallet and pride must have been felt personally. He had always fancied himself as New York City mega mogul, but his presence in Times Square had proved a costly disaster.