A bankruptcy notice dated June 11 has appeared in the window of Ascari Enoteca, the popular Leslieville Italian restaurant known for its handmade pasta, impressive wine list and intimate 38-seat dining room.
Located at 1111 Queen Street East, the restaurant has been a staple in the east end for over a decade, earning praise from diners and chefs alike — including Michelin-recognized chef Lawrence La Pianta of Cherry Street Bar-B-Que, who once described Ascari as “super good… the carbonara and the Barese sausage are delicious every time.”
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Named after Italian Formula One driver Alberto Ascari, the restaurant has long blended its love of food, wine and racing into a fine dining concept. Known for its seasonal menus and standout dishes like mezzo paccheri di sepia nero (a squid ink pasta with calamari and clams), Ascari Enoteca built a loyal following by doing the classics — and doing them extremely well.
A second, larger location opened on King West in 2019 but closed in 2023.
Co-owner Erik Joyal tells us, “It was a forced bankruptcy, as a HASCAP loan from the bank was called. Because the loan is backed by the government, the bank had no incentive to work with us to find a resolution as they can now just collect the remaining from the government.”
Joyal also cited the pandemic as a factor.
“To be honest, we’ve never fully recovered from covid… with inflated food costs and high wages it became difficult to make a solid profit, and service debt. It’s been tough for every restaurant out there these past few years.”
Joyal says that they are continuing to look at all their options and that there is an appeal process available as it was a forced closure.
While it’s not yet clear whether the restaurant is closed for good, Joyal says that countless memories have been made.
“Ascari has been in Lesliville for almost 15 years, it is a warm, welcoming spot (thanks to those have worked there over the years) that I hope most people really enjoyed.”
