Season 1 (as listed by Wikipedia) restaurants are checked against Yelp, Google, Zagat & any other sites linked for the information.
S1-Ep1 Peter's in Babylon, NY - CLOSED
S1-Ep2 Purnima in New York, NY - OPEN *Was originally named "Dillon's" which is currently just the name of the bar.
S1-Ep3 The Mixing Bowl Eatery in Bellmore, NY - CLOSED
S1-Ep4 The Seascape in Islip, NY - CLOSED *was sold, then turned into "The Coast Bistro & Bar" which has since closed as well*
S1-Ep5 The Olde Stone Mill in Tuckahoe, NY - OPEN and seems to be doing well
S1-Ep6 Sebastian's in Taluca Lake, CA - CLOSED *filmed in season 1, aired in season 2
S1-Ep7 Finn McCool's Irish Pub in Westhampton Beach, NY - OPEN & from the looks of it doing well. *SOLD as of the end of Season 1, but still open under the same name.
S1-Ep8 Lela's Fine Dining in Pomona, CA - CLOSED
S1-Ep9 Campania's in Fair Lawn, NJ - CLOSED
S1-Ep10 The Secret Garden in Moorpark, CA - OPEN and seems to be doing well.
So our total for Season 1 restaurants are 6 CLOSED, 4 OPEN. Not a terrible amount of closures, but not pretty either. Considering some sold, and still closed, I think we can chock those up to a bad economy.
Up next .... Season 2!