FoodFirst Global Restaurants, parent of BRAVO Cucina Italiana and BRIO Tuscan Grille, filed for bankruptcy April 10due to the negative effects of the COVID-19 pandemic. The changes did not have the intended effect as sales dropped to $307 million in 2019. Management blamed the coronavirus pandemic, which closed restaurants around. Foodfirst Global Restaurants, Inc. First Choice Medical Group of Brevard, LLC, Statement of Corporate Ownership. Case DetailsPartiesDocumentsDockets Case Details Case Number: 6:20-BK-02159 The full names of the concepts are Brio Italian Mediterranean and Bravo Fresh Italian. Members help make our journalism possible. Shuker & Dorris, P.A. The company closed 71 domestic locations in March, and expects to shut down more. 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. The goal is first to rebrand both Bravo and Brio, [] But I can get my daughters meds and supplies. The deal, approved by a U.S. bankruptcy court judge in Orlando, paved the way for the sale of the assets of Brio owner FoodFirst Global Restaurants Inc. FoodFirst filed for bankruptcy protection . Government-mandated closures led to 6,000 furloughs. Give a gift that will have them saying Bravo! Filed by R Scott Shuker on behalf of Debtor FoodFirst Global Restaurants, Inc.. (Shuker, R) (Entered: 04/10/2020), Motion for Authority to Pay Pre-Petition Wages, Assignment of the Honorable Karen Jennemann, Bankruptcy Judge to this case . It may not be complete. We havent been able to get the big guys to do much work with us, Layt said about aggregator commission fees, which can often reach up to 30%. BRAVO first opened in 1992 while BRIO was founded five years later. The company has cited both economic hardship prior to the . 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. 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 is the parent company of Brio Italian Mediterranean and Bravo Cucina Italiana. The deal would increase Earls restaurant interests by about 23%. According to court documents, customer satisfaction increased, but labor costs, employee turnover, and a large number of underperforming restaurants sank sales volume and profitability. 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. It was unclear how the 45 properties sought by GPEE break down between open and closed stores, and Brio versus Bravo. The operator of Planet Hollywood and Buca di Beppo is paying just $50,000 in cash for FoodFirst Global Restaurants. . Follow this case and receive case update emails for the life of this case for a one-time fee of $39.95. (ADIclerk) (Entered: 04/10/2020), Receipt of Filing Fee for Voluntary Petition (Chapter 11)(6:20-bk-02159) [misc,volp11a2] (1717.00). GP Investments and Restaurateur Bradley D. Blum have formed a new restaurant company, FoodFirst Global Restaurants Inc. It is also worth perusing the nicely put-together wine list. "Bravo Brio Restaurant Group, Inc. 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 company's principal . From 2006 to 2010, the restaurants underwent aggressive expansion and reached 85 units. Sign up to receive texts from Restaurant Business on news and insights that matter to your brand. Respond to any ACA audit questionnaires. Prior to that, he was president of Applebees. Shutterstock. Customer Service. What Direction is Restaurant Staffing Headed? The company said Blum, after the brands went private earlier that year. Uno to sell frozen pizza business to Great Kitchens Food Co. Red Robin's recovery gets off to a fast start. The partners acquired Bravo and Brio from their shareholders for $100 million that month. 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. As part of the changes, headquarters moved from Columbus, Ohio, to Orlando, Florida, andnew Italian Mediterranean menus were implemented. 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. To see the entire docket, Layts priorities were to improve efficiency and cut costs in terms of labor, food waste, and marketing. The Registered Agent on file for this company is Corporation Service Company Inc and is located at 641 South Lawrence Street, Montgomery, AL 36104. Email:bankruptcy@shukerdorris.com Is this your business? 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. Complaints Is this Your Business? They are our most profitable restaurants, and the ones that had the best chance to break even during the crisis, Layt told Nations Restaurant News during an exclusive phone interview. In 2018, the company was sold to Spice Private Equity Ltd. and rebranded as FoodFirst Global Restaurants,[1] and is now based in Orlando, Florida. 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. As part of the changes, headquarters moved from Columbus, Ohio, to Orlando, Florida, andnew Italian Mediterranean menus were implemented. But, now that might change, as consumers learn to rely on them for quality takeout. In October 2010, BBRG went public and their IPO raised net proceeds of $62.4 million. When GPEE was approved to extend the DIP loan, the other parties dropped out of the running. A week later, Fortress agreed to purchaseCraftworks Holdings, parent of Logans Roadhouse and Old Chicago, for $93 million after originally offering $138 million. Our core values are: INTEGRITY. Earl Enterprises has acquired a minimum of 45 leases from FoodFirst Global Restaurants, chairman Robert Earl said, but he is hopeful that number ends up being considerably higher. . The company said it is repositioning Brio Tuscan Grille in the polished, upscale segment of casual dining. You may cancel your subscription at anytime by calling As an organization. FOODFIRST GLOBAL RESTAURANTS, INC. Company Number 704496 Other Identifiers US EIN number: 341566328 SEC CIK number: 1495479 Status Active Incorporation Date 7 July 1987 (over 35 years ago) Company Type CORPORATION FOR PROFIT Jurisdiction Ohio (US) Registered Address CUYAHOGA, CLEVELAND, OH United States Previous Names BELDEN VILLAGE VENTURE, INC. By 2013, there were 107 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. of GP Investments and vice-chairman of FoodFirst Global Restaurants. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. FoodFirst Global Restaurants Feb 2017 - Jul 2018 1 year 6 months. In order to save jobs and the viable restaurants it will be necessary to pursue a company sale and an accompanying management services agreement.. Salaries for the Operational Excellence Coach will be influenced by many factors. 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. Uno to sell frozen pizza business to Great Kitchens Food Co. Red Robin's recovery gets off to a fast start. The other principal in the deal was Brad Blum, a past head of Olive Garden and Burger King. The chains had generated $400 million in annual systemwide sales in 2017. Company Number F99000002961 Status Active Incorporation Date 11 June 1999 (over 23 years ago) Company Type Foreign for Profit Jurisdiction Florida (US) Branch Branch of FOODFIRST GLOBAL RESTAURANTS, INC. (Ohio (US)) Agent Name Michael Neukamm 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. Court documents reveal that Earls Earl Enterprises (EE) approached FoodFirst around the time of the filing with an offer to manage the brands. 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. The goal is first to rebrand both Bravo and Brio, wich they plan to grow as polished-casual concepts. The new company has already has acquired its first brands - Brio Tuscan Grille and Bravo Cucina Italiana - in a $100 million transaction that closed May 24. 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. | FoodFirst Global Restaurants is the parents company of Bravo Fresh Italian and Brio Mediterranean Italian. It has since emerged from bankruptcy, after closing most of its restaurants, including Bon Vie. It will be called Brio Italian Mediterranean. Registered in England and Wales. ORANGE-FL The deal is subject to the approval of the bankruptcy court overseeing the operation of the chains parent, FoodFirst Global Restaurants. An independent contractor named Robert Morrison has been brought in to serve as chief restructuring officer. 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. (407) 337-2060 It is because of our allegiance to and strong belief in human dignity that Food First, Inc. continues to reach out and provide services to those in need through-out New York City as well as internationally. Roughly 21 Bravo and Brio casual dining brands remain open, serving carryout deals for customers during the coronavirus crisis. Both chains are owned by the same parent company, FoodFirst Global Restaurants. 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. subscribe now, FoodFirst Global Restaurants, Inc. Columbus, Ohio Review and respond to medical child support orders. 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. and Brio restaurants change hands again, Arbys launches new multi-brand restaurant company, Food Entrepreneur Experience The Future of Functional, Corn, wheat, soybean futures mostly lower in liquidation moves, Mondelez has big plans for acquired brands. FoodFirst Global Restaurants Inc/OH Foodfirst Global Restaurants, Inc. of Ohio owns and operates a chain of Italian restaurants. 650M+ Contacts Search. Copyright 2011-2023 BusinessBankruptcies.com. Fifty-three units are still under lease. The restaurant created a data room for all interested parties with the understanding that whichever party was chosen as the manager and lender under the DIP loan would likely purchase the assets. 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. Registered in England and Wales. Italian Kitchen from FoodFirst Global Restaurants, Inc. Financial terms of the transaction were not disclosed. The documents reveal that FoodFirst Global Restaurants Inc., the corporate parent of Bravo and Brio restaurants, is asking a federal bankruptcy judge's permission to sell "at least 45" of the approximately 100 Brio and Bravo restaurants across the country in a private sale. He has been on the job for 11 weeks. Blum said he intended to use the two Italian chains as the foundation for a new sort of company that aimed for healthful dining and sustainable operations as means to financial success, and was named CEO. Sweet treats join shelves in new formulations and collaborations. Mariane L Dorris 121 South Orange Avenue The first restaurant opened in Columbus, Ohio. : 6:20-bk-02164-KSJ; 6:20-bk-02165-KSJ; 6:20-bk-02166-KSJ; and 6:20-bk-02167-KSJ Doc, Emergency Motion to Reject Unexpired Leases of Non-Residential Real Property Nunc Pro Tunc to the Petition Date, Preliminary Hearing Scheduled for 04/14/2020 04:00 PM Orlando, FL - Courtroom 6A, 6th Floor, George C. Young Courthouse, 400 W. Washington Street. FoodFirst Global Restaurants CEO and chairman Brad Blum (handout from FoodFirst) "These are brands that have been revered in the past, and we studied this and thought this was a terrific buying . Restaurants View Business profile Customer Complaints Summary Business's. [7], On April 10, 2020, FoodFirst Global Holdings Inc. filed for voluntary Chapter 11 bankruptcy protection in the Middle District of Florida. Web page addresses and e-mail addresses turn into links automatically. Unfortunately, the changes did not yield the results expected, the company said in the bankruptcy filing. The restaurant industry veteran replaces Brad Blum as FoodFirst plans to reposition both casual dining brands, 2023 Informa USA, Inc., All rights reserved, FoodFirst Global Restaurants, the parent company of Brio Tuscan Grille and Bravo Cucina Italiana, has named. The parties also discussed a debtor-in-possession loan from EE, with the stated understanding that the arrangements would likely lead to EEs acquisition of FoodFirst. Leadership at the time tried different ways to attract customers, but nothing worked. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. Related: FoodFirst Global Restaurants, parent to Brio Tuscan Grille and Bravo Cucina Italiana, names Steve Layt CEO. Close. Management of the company, FoodFirst Global Restaurants, said the chains had been struggling with sales and profit declines before the COVID-19 pandemic. FoodFirst Global Restaurants, parent of BRAVO Cucina Italiana and BRIO Tuscan Grille, filed for bankruptcy April 10 due to the negative effects of the COVID-19 pandemic. 121 South Orange Avenue By 2006, the two restaurants had expanded to 50 total locations. 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, FoodFirst filed for Chapter 11 protection on April 10, replaced in that position by former Applebee's president Steve Layt, Wendy's wants to open more restaurants, just not in ghost kitchens. Blum said he intended to use the two Italian chains as the foundation for a new sort of company that aimed for healthful dining and sustainable operations as means to financial success, and, The deal is the latest example of operators finding opportunity where others see severely distressed concepts. The case status is Pending - Other Pending. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Fax : (407) 337-2050 The company's restaurants provide multifaceted culinary destinations that deliver the ambiance, design elements and food quality reminiscent of fine dining restaurants using fresh flavorful ingredients and authentic Italian cooking methods at a value typically offered by casual dining establishments enabling its guests with a fine dining (Kathy D.) (Entered: 04/10/2020), Order Authorizing Debtor-In-Possession to Operate Business. Related: Full-service same-store sales down an average 74%, Black Box says. Office of the United States Trustee The average salary for an Accounting Manager is 81,044 per year in Reading (United States). Email:jill.kelso@usdoj.gov. CEO Steve Layt, a former Pizza Hut executive, took over in late January to right the ship. 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. Key Principal: Steven R Layt See more contacts Industry: Italian restaurant , American restaurant Printer Friendly View Address: 4700 Millenia Blvd Ste 400 Orlando, FL, 32839-6020 United States See other locations Phone: Website: www.foodfirst.com Employees (this site): Actual Employees (all sites): Actual Revenue: Modelled What Direction is Restaurant Staffing Headed? 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. 2006, the company, FoodFirst Global Restaurants is the parents company of Bravo Fresh and... 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