All rights reserved. In order to save jobs and the viable restaurants it will be necessary to pursue a company sale and an accompanying management services agreement.. You will be notified in advance of any changes in rate or terms. The company first received a purchase offer from an affiliate of Earl Enterprises, which owns dining chains including Planet Hollywood and Buca di Beppo, said R. Scott Shuker of Shuker & Dorris PA, FoodFirsts bankruptcy lawyer, during a hearing of the U.S. Bankruptcy Court in Orlando conducted by telephone conference. Number 8860726. 420 S Orange Ave Ste 900 The company provided no other details on the rebranding. Restaurants Multi Location Business Find locations Additional business information Believed to be out of business: According to information. As a private company, the board of directors can take a long-term view and allow the leadership team to focus on developing superior restaurant brands that serve superior food with a superior guest experience. 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 . George C Young Federal Building Members help make our journalism possible. 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. Salaries for the Operational Excellence Coach will be influenced by many factors. We cannot wait to add another Cameron Mitchell Restaurant at this very high-profile location overlooking the fountain." Bon Vie closed in early 2020, after its parent company, FoodFirst Global. 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. FoodFirst Global Restaurants, owner ofBrio Tuscan Grilleand Bravo Cucina Italiana, is seeking approval to sell at least 45 units to an entity formed by GP Investments and Earl Enterprises. Our core values are: INTEGRITY. A week later, Fortress agreed to purchaseCraftworks Holdings, parent of Logans Roadhouse and Old Chicago, for $93 million after originally offering $138 million. Initially, the restaurant group consisted of one brand, Bravo Cucina Italiana. An independent contractor named Robert Morrison has been brought in to serve as chief restructuring officer. FoodFirst Global Restaurants board of directors will include Mr. Blum as chairman and c.e.o., Mr. Bonchristiano as vice-chairman, Bob Mock (former Darden executive) as chief operations officer, and Diane Reed (chief financial officer for Bravio and Brio since October) as c.f.o. FoodFirst Global Restaurants, Inc. May 2018 - Apr 2020 2 years. Since then, the company has reopened seven more units. FoodFirst is operating with 120 hourly and salaried employees. [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". Design, CMS, Hosting & Web Development :: Source: FoodFirst Global Restaurants, Inc. FOODFIRST GLOBAL RESTAURANTS, INC. is an Alabama Foreign Corporation filed on July 25, 2001. The best choice for customized playlists for restaurants, Built upon our French heritage, Bel Brands USA works hard to complement the. Case DetailsPartiesDocumentsDockets Case Details Case Number: 6:20-BK-02159 Sign In. But the court papers state that the assets of Brio and Bravo covered in the deal are unlikely to fetch more cash. Five underperforming restaurants closed in 2017 as a result. The two sides preliminarily agreed to a management agreement and debtor-in-possession loan with the assumption that a sale would have to go through a Chapter 11 bankruptcy proceeding. The chains had generated $400 million in annual systemwide sales in 2017. 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 for a free account to get access to data on case creditors, search for cases, and more. Foodfirst Global Restaurants, Inc. Give a gift that will have them saying Bravo! login [7], On April 10, 2020, FoodFirst Global Holdings Inc. filed for voluntary Chapter 11 bankruptcy protection in the Middle District of Florida. As an organization. Registered in England and Wales. The partners acquired Bravo and Brio from their shareholders for $100 million that month. The opportunities for growth and expansion are significant.. Earlier in his career, Mr. Blum was chief marketing officer for Cereal Partners Worldwide and held various marketing and management positions at General Mills, Inc. Brazil-based GP Investments restaurant industry experience includes ownership of the Fogo De Chao brand, which it expanded into the United States. 407-648-6301, Jill E Kelso (407) 337-2060 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. Brio and Bravo operate 110 locations in 32 states across the country and reported annual sales of more than $400 million in 2017. It will be called Brio Italian Mediterranean. FOODFIRST GLOBAL RESTAURANTS, INC. branch. The partners acquired Bravo and Brio from their shareholders for $100 million that month. Only 28 of FoodFirst's nearly 100 units are operating amid the COVID pandemic. Layt, left, is a 30-year restaurant veteran who previously worked as president and CEO NPC International, the nations largest Pizza Hut franchisee, FoodFirst said. We will do this by relentlessly focusing on the quality of the food, improving the menu, sharpening the operations, remodeling the restaurants and delivering a highly differentiated guest experience, Mr. Blum said. The 21 locations open are in Huntsville, Ala.; Gilbert, Az., Orlando, Fla., Palm Beach Gardens, Fla., Naples, Fla. (2 locations), Pembroke Pines, Fla., Sarasota, Fla., Ft. Lauderdale, Fla.; Rochester Hills, Mich., Lansing, Mich.;St. Louis, Mo. GP had been the source of financing of Brio and Bravos purchase in May 2018. 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. Get todays need-to-know restaurant industry intelligence. Among his assignments is determining whether a sale of FoodFirst would be a better option than a liquidation. 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. This harmonious blend of classic and contemporary also extends to Klaus Erfort's cuisine. ORLANDO, Fla., Jan. 28, 2020 (GLOBE NEWSWIRE) -- FoodFirst Global Restaurants announced today that its Board of Directors has appointed Steve Layt as Chief Executive Officer, effectively immediately. Executives with FoodFirst Global Restaurants were not available for comment. The change is effective immediately, as former CEO and FoodFirst founderBrad Blumhas stepped down from his role as chairman and chief executive, the Columbus, Ohio-based company said in a statement released Tuesday morning. subscribe now, or Email Finder Find verifier work emails! The chains had generated $400 million in annual systemwide sales in 2017. 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. 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. So It Redesigned Its Iconic Can. The goal is first to rebrand both Bravo and Brio, [] Winsight is a leading B2B information services company focused on the food and beverage industry, providing insight and market intelligence to business leaders in every channel consumers buy food and beverage convenience stores, grocery retailing, restaurants and noncommercial foodservice through media, events, data products, advisory services, and trade shows. Everyone was feeling bullish about the future, he said. FoodFirst Global Restaurants is the parent company of Brio Italian Mediterranean and Bravo Cucina Italiana. As part of the changes, headquarters moved from Columbus, Ohio, to Orlando, Florida, andnew Italian Mediterranean menus were implemented. How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. First Choice Medical Group of Brevard, LLC, Statement of Corporate Ownership. At the time, the two chains collectively numbered 110 locations in 32 states, with total annual sales of about $400 million. FoodFirst Global Restaurants (formerly Bravo Brio Restaurant Group) is the parent company of the Bravo! The restaurant industry was forever changed when the COVID pandemic started in March. CEO Steve Layt, a former Pizza Hut executive, took over in late January to lead a turnaround, but the COVID-19 pandemic exacerbated FoodFirsts struggles. Temporarily closing the majority of our restaurants was heartbreaking but necessary to conserve our financial resources in the immediate term," Layt said in a statement. FoodFirst, formed in 2018, spent $100 million to purchase and take Brio Tuscan Grille and BRAVO Fresh Italian private, which were later renamed to Brio Italian Mediterranean and BRAVO Fresh Italian, respectively. Leadership at the time tried different ways to attract customers, but nothing worked. 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. Sign up here. 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 will continue to closely monitor the restaurants performance during the pandemic and the assorted state shelter-in-place orders to determine which locations remain viable, the company said in the Chapter 11 filing. Email:jill.kelso@usdoj.gov. The parent of the Brio Italian Mediterranean and Bravo Fresh Italian casual chains has filed for Chapter 11 bankruptcy protection and raised the possibility of seeking a buyer after closing 71 of its 92 remaining restaurants. The lawsuit said there are more than 70 stores with leases expiring between 2021 and 2028 and about 20 units with expiring leases in 2020. Cucina Italiana and Brio Tuscan Grille restaurant chains in the United States. The other principal in the deal was Brad Blum, a past head of Olive Garden and Burger King. At the time, the company owned 100 restaurants, down from the 110 that were in operation when Brio and Bravo were acquired for $100 million in May 2018. The company closed 71 domestic locations in March, and expects to shut down more. Steve Layt is the company's chief executive officer. 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. Belgian bakery chain Le Pain Quotidienagreed to sell its U.S. assets to restaurant operator Aurify Brands for $3 million Southern fast-food chain Krystal agreed to a nearly $50 million offer fromFortress Investment Group. The changes did not have the intended effect as sales dropped to $307 million in 2019. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. 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. Another Darden vet joins Bravo, Brio parent company, Private equity firm to acquire Bravo Brio Restaurant Group, Bravo! Receipt Number 63999022, Amount Paid $1717.00 (U.S. Treasury) (Entered: 04/10/2020), Chapter 11 Case Management Summary Filed by Mariane L Dorris on behalf of Debtor FoodFirst Global Restaurants, Inc.. (Dorris, Mariane) (Entered: 04/10/2020), Preliminary Hearing Scheduled for 04/14/2020 4:00pm Orlando, FL - Courtroom 6A, 6th Floor, George C. Young Courthouse, 400 W. Washington Street. Sales fell to $307 million for 2019. FoodFirst Global Restaurants Inc., the parent of the Italian restaurant chains Brio and Bravo, has two potential buyers willing to acquire some of its assets out of bankruptcy. We use cookies to provide you with a better experience. 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. Tax ID / EIN: xx-xxx6328, R Scott Shuker The Registered Agent on file for this company is Corporation Service Company Inc and is located at 641 South Lawrence Street, Montgomery, AL 36104. When FoodFirst filed bankruptcy on April 10, it had nearly 100 units in the U.S., but only 21 were in operation due to the COVID-19 pandemic. The latest headlines and features from FSR magazines editors. The . Layts priorities were to improve efficiency and cut costs in terms of labor, food waste, and marketing. The company has hired Piper Jaffray to assist in its review of strategic alternatives for the company. Columbus, Ohio Review and respond to medical child support orders. You will be charged On 04/10/2020 FoodFirst Global Restaurants, Incwas filed as a Bankruptcy - Chapter 11 lawsuit. The Board and I are confident Steve is the right leader to build on current momentum and continue to drive our operations towards industry-leading excellence.. Helpful Report Members help make our journalism possible. GP provided the funding. Uno to sell frozen pizza business to Great Kitchens Food Co. Red Robin's recovery gets off to a fast start. The full names of the concepts are Brio Italian Mediterranean and Bravo Fresh Italian. Once the crisis is over, it will still be challenging for the restaurants that remain open. That begins with our almost 10,000 employees who represent the face of the Brio and Bravo brands. Blum invested in the . 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