David Copperfield's magic-themed restaurant in New York was a few weeks from opening when the company pulled the plug. More money had already been invested per foot than in any restaurant in New York City, and it was determined that the restaurant could NEVER recoup its investment. Rather than throw good money after bad, they called it quits.
David Copperfield's relationship with the Walt Disney Company remains very good. He loves to go to the parks and is treated very well when he does.
It is unlikely that a Copperfield restaurant will ever be built like the ones that were planned, though something else might morph out of the project.
The new Magic Masters shop in Downtown Disney Westside is owned by Ken Fletcher and Rich Bloch. It is not a regular magic shop, and relies more on the "show" aspects to entertain potential customers.