The Rainbow Room has symbolized glamour since it opened in 1934, during the Great Depression.
Cipriani International chief operating officer John Higgins told WNBC the decision was "due to the current economic crisis" and a lease dispute.
A spokeswoman for landlord Tishman Speyer didn't immediately respond to a call seeking comment Saturday.
Website: www.rainbowroom.com
----
Click here for New York and Tri-State News
Follow us on Facebook || Twitter New York News || Twitter Breaking News