The deal is subject to the approval of the bankruptcy court overseeing the operation of the chains parent, FoodFirst Global Restaurants. Complaints Is this Your Business? Members help make our journalism possible. FoodFirst, which formed which formed in 2018 after the brands went private earlier that year, said Layt's " first priorities will be to deliver outstanding operational excellence" and customer. The average salary for an Accounting Manager is 81,044 per year in Reading (United States). 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Law360 (April 13, 2020, 12:27 PM EDT) -- FoodFirst Global Restaurants Inc., which owns a pair of Italian eatery chains with more than 100 locations, will open its Chapter 11 case Tuesday in. Last week, a bankruptcy court approved the $93 million acquisition of Craftworks Holdings, parent of Logans Roadhouse and other full-service concepts, by its lead lender for $93 million in forgiven debt. Re: Emergency Motion for Joint Administration of Lead Case 6:20-bk-02159-KSJ with 6:20-bk-02161-KSJ; 6:20-bk-02162-KSJ; 6:20-bk-02163-KSJ; CASE NO. Re: Emergency Motion for Authority to Maintain Pre-Petition Bank Accounts Doc, Preliminary Hearing Scheduled for 04/14/2020 04:00 PM Orlando, FL - Courtroom 6A, 6th Floor, George C. Young Courthouse, 400 W. Washington Street. Address: 4200 Conroy Rd Ste 154 Orlando, FL, 32839-2437 United States See other locations Phone: Website: www.foodfirst.com Employees (this site): Modelled ESG ranking: ESG industry average: What is D&B's ESG Ranking? Fax : (407) 648-6323 Estimated sales for both brands was $366.1 million in 2018, down from reported sales of $405.3 million in 2017, according to NRNs Top 200 census. The chains had generated $400 million in annual systemwide sales in 2017. According to court documents, FoodFirst started negotiations with Earl Enterprises shortly before filing bankruptcy. An independent contractor named Robert Morrison has been brought in to serve as chief restructuring officer. However, growth and traffic declined as consumer preference shifted to quick-serve and fast-casual. This case has no creditors listed. You may change your billing preferences at any time in the Customer Center or call Re: Motion for Authority to Pay Pre-Petition Wages, Salaries, and Benefits, Reimburse Pre-Petition Employees' Medical Benefits Expenses and Request for Emergency Hearing Doc, Emergency Motion for Joint Administration of Lead Case 6:20-bk-02159-KSJ with 6:20-bk-02161-KSJ; 6:20-bk-02162-KSJ; 6:20-bk-02163-KSJ; CASE NO. CEO and principal Brad Blum was replaced with Steve Layt, an industry veteran who had most recently served as CEO of NPC Internationals Pizza Hut operations, one of the pizza chains largest franchisees. Email and Phone Finder Software; Free Email Verifier; Features. But the company will also new brands from statch as well as look for acquisitions to add to the group down the road. I would expect those that werent using carryout [before] will be more loyal around that business.. They are among thousands being laid off across the U.S. On March 25, the National Restaurant Associationsaid about 3 million restaurant workers have been laid off over the past three weeks including hundreds at Landry's and Cheesecake Factory. Suite 1120 George C Young Federal Building Related: Bravo Brios new parent launches FoodFirst Global Restaurants Inc. I would like to personally thank Brad for his outstanding leadership and contribution in setting up the foundation for FoodFirsts success, Antonio Bonchristiano, CEO of GP Investments, FoodFirsts main investor, said in a statement. of GP Investments and vice-chairman of FoodFirst Global Restaurants. FoodFirst Global Restaurants, Inc. Associated Cases. The Operational Excellence Coach I salary range is $39,738 to $53,052 in Bismarck, North Dakota. The first restaurant opened in Columbus, Ohio. login, GP Investments is the perfect partner to develop this unique, differentiated company. When the crisis hit, the newly appointed CEO was putting the final touches on a turnaround plan for the company that involved renegotiating leases with landlords where rents were too high; re-evaluating the menus at both brands; optimizing the supply chain; and simplifying kitchen operations. The mandated dining room closure orders wiped out 60% of our restaurants within days and since then we have experienced nothing short of devastating sales declines., FoodFirst and its investors left open the possibility of further closures. Stores that remain open have also been impacted as only managers are running the 21 restaurants. COLUMBUS, OHIO Restaurateur Bradley D. Blum and investment firm GP Investments, Ltd. have come together to form a new restaurant company, FoodFirst Global Restaurants, Inc. FoodFirsts goal is to be a progressive, relevant, diverse and highly successful restaurant company for the 21st century, the company said. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. At the time, the two brands operated a combined 110 locations in 32 states and had sales in excess of $400 million in 2017 with around 10,000 employees. Management blamed the coronavirus pandemic, which closed restaurants around. FOODFIRST GLOBAL RESTAURANTS, INC. branch. We believe that focus will create a virtuous cycle that will quickly result in superior profitability. [9], "Bravo Brio's new parent launches FoodFirst Global Restaurants Inc", "FoodFirst Global Restaurants, parent to Brio Tuscan Grille and Bravo Cucina Italiana, names Steve Layt CEO". Italian Kitchen from FoodFirst Global Restaurants, also based in Orlando.The purchase price is reported to be about $30 million. Helpful Report FoodFirst filed for Chapter 11 protection on April 10. But I can get my daughters meds and supplies. Antonio Bonchristiano, chairman of FoodFirsts board and CEO of principal backer GP Investments, described the impact of the COVID-19 crisis as irreversible.GP is the parent of the Leon natural foods quick-service chain. The Judge overseeing this case is Lori V. Vaughan. The deal highlighted in documents filed with the Florida bankruptcy court reveal that the GP-EE purchasing partnershiptechnically GPEE Loan LLCcould raise the $25 million credit-bid portion of its offer to as much as $40 million. The . The Registered Agent on file for this company is Corporation Service Company Inc and is located at 641 South Lawrence Street, Montgomery, AL 36104. R Scott Shuker Shuker & Dorris, P.A. Cucina Italiana and Brio Tuscan Grille restaurant chains in the United States. The fare is prepared in the kitchens of other Earl concepts, primarily Buca di Beppo, a family-style Italian concept that does little lunch business. This case was filed in U.S. Bankruptcy Courts, Florida Middle Bankruptcy. It was established in Columbus, Ohio as Bravo Brio Restaurant Group in 1992 by Rick and Chris Doody in collaboration with Executive Chef Phil Yandolino. Layts priorities were to improve efficiency and cut costs in terms of labor, food waste, and marketing. Bankrupt FoodFirst Global Restaurants is seeking approval to sell at least 45 of its stores to GPEE Lender in the form of a $25 million credit bid, $50,000 in cash, and $4.5 million in assumed liabilities. GPEE is an entity formed by GP Investments, the ultimate owner of FoodFirst, and Earl Enterprises, which owns and operates more than 200 locations under brands like Planet Hollywood, Bucca di Beppo, Bertucci's, and Earl of Sandwich. Blum was replaced in that position by former Applebee's president Steve Layt in late January. Were excited to have an operator and executive of Steves caliber join our team and we look forward to all we will achieve under his leadership, Bonchristiano said in a statement. Web page addresses and e-mail addresses turn into links automatically. Subscribe for a full year and receive two months free! Both chains are owned by the same parent company, FoodFirst Global Restaurants. The Registered Agent on file for this company is Corporation Service Company and is located at 8825 N 23rd Ave Suite 100, Phoenix, AZ 85021. The case status is Pending - Other Pending. The deal is the latest example of operators finding opportunity where others see severely distressed concepts. It would be impossible to guess, but certainly theres a strong chance not all of them will reopen based on how long this process lasts, he said. When FoodFirst took the reins in 2018, Bravo and Brio operated a combined 110 locations in 32 states and had sales in excess of $400 million in 2017 with around 10,000 employees. Wall Street Deli #5958 of 8485 places to eat in Columbus. (407) 648-6301 It will be called Brio Italian Mediterranean. (407) 337-2060 Court documents indicate that 20 leases are scheduled for renewal in 2020. Fifty-three units are still under lease. 4. BRAVO first opened in 1992 while BRIO was founded five years later. purchase this single case. The bankruptcy came after the companywhich oversees Brio Tuscan Grille and Bravo Italian Kitchenclosed 71 of its 92 U.S. locations in March, and furloughed . Everyone was feeling bullish about the future, he said. | FoodFirst Global Restaurants is the parents company of Bravo Fresh Italian and Brio Mediterranean Italian. Number of U.S. That turnaround process was interrupted by the COVID-19 pandemic, forcing the bankruptcy. login Get todays need-to-know restaurant industry intelligence. After the bankruptcy filing, PHL Holdings, an entity jointly owned by GP Investments and Earl Enterprises, purchased $30 million in prepetition secured debt from two of FoodFirsts lenders. The latest from Restaurant Business, sent straight to your inbox. The chains had generated $400 million in annual systemwide sales in 2017. FoodFirst Global Restaurants already has acquired its first brands Brio Tuscan Grille and Bravo Cucina Italiana in a $100 million transaction that closed May 24. The same financial institution, Fortress Credit, also took control of the 300-unit Krystal quick-service chain through a credit bid of $27 million and the assumption of $21 million in liabilities. Sign up to receive texts from Restaurant Business on news and insights that matter to your brand. FoodFirst Global Restaurants is the parent company of Brio Italian Mediterranean and Bravo Cucina Italiana. Sign up here. But the court papers state that the assets of Brio and Bravo covered in the deal are unlikely to fetch more cash. FoodFirst Global Restaurants, the parent company of Brio and Bravo restaurants, filed for Chapter 11 bankruptcy protection in April 2020 and temporarily closed over 70 of its more than 92 locations. Five underperforming restaurants closed in 2017 as a result. Sign up for a free account to get access to data on case creditors, search for cases, and more. FoodFirst oversees Brio Tuscan Grille, which was renamed Brio Italian Mediterranean, and Bravo Cucina Italiana, which was renamed Bravo Fresh Italian. 650M+ Contacts Search. FoodFirst Global CEO Steve Layt was about to launch a bullish turnaround for each brand then the rug got pulled with the coronavirus outbreak, he tells NRN, 2023 Informa USA, Inc., All rights reserved, Denny's raises over $1.2 million to fight childhood hunger in 12th annual No Kid Hungry fundraiser, Bojangles names Tom Boland as new chief marketing officer, Baskin-Robbins rolls out chicken-and-waffle flavored ice cream, Nations Restaurant News launches new CREATE Roadshow event series, San Diegos Trust Restaurant Group drives retention, innovation with culture of yes, Tech Tracker: Restaurant QR codes are evolving and so should yours, FoodFirst Global Restaurants, parent to Brio Tuscan Grille and Bravo Cucina Italiana, names Steve Layt CEO, Full-service same-store sales down an average 74%, Black Box says, the National Restaurant Associationsaid about 3 million, Allowed HTML tags:

. purchase single case FoodFirst now plans to refresh the brands. That begins with our almost 10,000 employees who represent the face of the Brio and Bravo brands. CEO Steve Layt, who came on board in late January to fix troubles at both brands, said he is keeping the21 best performing Bravo and Brio restaurants open for curbside pickup and delivery orders. Italian Kitchen from FoodFirst Global Restaurants. FoodFirst Global Restaurants, the parent company of Brio Tuscan Grille and Bravo Cucina Italiana, has named Steve Layt as the companys new chief executive officer. That is why we are making this investment. In a set menu composed of four, five or seven courses, he presents nicely pared-down dishes that are full of finesse. Registered in England and Wales. You will be notified in advance of any changes in rate or terms. After the bankruptcy filing, the investment firm GP Investments joined forces with EE to purchase $30 million of notes held against FoodFirsts assets by two of its lenders. Mr. Blum has extensive restaurant industry experience, including serving as a board director for Darden Restaurants, Inc. and a board director, strategic partner and investor in LEON Restaurants. [7], On April 10, 2020, FoodFirst Global Holdings Inc. filed for voluntary Chapter 11 bankruptcy protection in the Middle District of Florida. The latest headlines and features from FSR magazines editors. 407-648-6301, Jill E Kelso To see the entire docket, restaurants have a Roman ruin style dcor and an open, Italian style kitchen focusing primarily on pastas and pizzas.[3]. Email:jill.kelso@usdoj.gov. FoodFirst Global Restaurants Feb 2017 - Jul 2018 1 year 6 months. FoodFirst Global Restaurants, the parent company of Brio Tuscan Grille and Bravo Cucina Italiana, has temporarily closed 71 of its 92 locations in the U.S. due to the COVID-19 crisis. Respond to any ACA audit questionnaires. 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FoodFirsts difficult position prior to the Pandemic makes its current situation even more precarious. /sites/all/themes/penton_subtheme_nrn/images/logos/footer.png. His diverse teams drive profitability by creating a great culture, focusing on the food, achieving operations excellence, consistently offering an enjoyable guest experience and providing strong brand communication. GP is also the lead investor in LEON Naturally Fast Food, a restaurant company based in London that will soon be introduced to the United States, GP said. Coach I salary range is $ 39,738 to $ 53,052 in Bismarck, North Dakota on News insights... R Scott Shuker Shuker & amp ; Dorris, P.A addresses turn into links automatically growth and traffic as. # 5958 of 8485 places to eat in Columbus Division of Informa PLC that matter to inbox. Be more loyal around that Business parent company, FoodFirst started negotiations with Earl Enterprises shortly before filing bankruptcy for. 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