Unless I'm mistaken they did the Wrestlemania press conference from there as well.
I'm sure it doesn't bother Vince all that much. Sure, it ended up going under, but in fairness most of the big themed restaurants in that style (eg. The Fashion Cafe; Planet Hollywood) bombed miserably as well.
IIRC, the tipping point was casually used racist comments, but there was other stuff going on even before that. To save from starting another TNA thread: Dutch Mantell (creative team) and Savio Vega (agent) have been let go.