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. 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 . 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 company's filing status is listed as Active and its File Number is F14413290. Casual dining brand Bravo Cucina Italiana will also be repositioned and renamed Bravo Italian Mediterranean, the company said. The partners acquired Bravo and Brio from their shareholders for $100 million that month. 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. An independent contractor named Robert Morrison has been brought in to serve as chief restructuring officer. For over twenty years, we have followed the vision that our clients' success is our . The company provided no other details on the rebranding. Similar restaurants nearby. View Benito Martinez's email address: bxxxxxxm@thereformation.com & phone: +1-205-xxx-xx09's profile as Assistant Manager at Reformation, located in Miami, Florida. As part of the changes, headquarters moved from Columbus, Ohio, to Orlando, Florida, andnew Italian Mediterranean menus were implemented. GP Investments and Restaurateur Bradley D. Blum have formed a new restaurant company, FoodFirst Global Restaurants Inc. This case has no creditors listed. : 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. Steve Layt as the companys new chief executive officer. The other principal in the deal was Brad Blum, a past head of Olive Garden and Burger King. The full names of the concepts are Brio Italian Mediterranean and Bravo Fresh Italian. FoodFirst Global Restaurants #5940 of 8485 places to eat in Columbus. FoodFirst Global Restaurants Inc/OH Foodfirst Global Restaurants, Inc. of Ohio owns and operates a chain of Italian restaurants. But the court papers state that the assets of Brio and Bravo covered in the deal are unlikely to fetch more cash. [8], In 2018, BBRG announced it had settled two lawsuits in 2017 for a total of $5.6 million. R Scott Shuker Shuker & Dorris, P.A. Five underperforming restaurants closed in 2017 as a result. GP had been the source of financing of Brio and Bravos purchase in May 2018. Cucina Italiana and Brio Tuscan Grille restaurant chains in the United States. 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. Foodfirst Global Restaurants Email, Phone Number, Employees, Competitors. 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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. And that's all that matters. It reported revenue of $307 million in 2019, that had been below airers4you's expectations. The company said it is repositioning Brio Tuscan Grille in the polished, upscale segment of casual dining. 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. Mariane L Dorris 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 latest from Restaurant Business, sent straight to your inbox. The latest headlines and features from FSR magazines editors. Brio Italian Grille has locations in 12 states, including Arizona, California, Delaware, Florida, Kentucky, Michigan . Uno to sell frozen pizza business to Great Kitchens Food Co. Red Robin's recovery gets off to a fast start. How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. Uno to sell frozen pizza business to Great Kitchens Food Co. Red Robin's recovery gets off to a fast start. 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. 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. FoodFirst purchased the Bravo and Brio Italian chains in 2018 for hundred dollars million. Click here to see the total pay, recent salaries shared and more! FoodFirst Global Restaurants. (407) 337-2060 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%. 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 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. FoodFirst Global Restaurants, Inc. Bankruptcy (6:20-bk-02159), Florida Middle Bankruptcy Court, Filed: 04/10/2020 - PacerMonitor Mobile Federal and Bankruptcy Court PACER Dockets 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.. Tasty dishes in Columbus. Successfully Completes Its Initial Public Offering", "Brio and Bravo parent files chapter 11 bakruptcy after closing 71 units", "The week in bankruptcies: FoodFirst Global Restaurants Inc., FoodFirst Global Holdings Inc. and 6 more", "Bravo Brio's financial troubles included wage-suit settlements totaling $5.6 million", https://en.wikipedia.org/w/index.php?title=FoodFirst_Global_Restaurants&oldid=1136438165, This page was last edited on 30 January 2023, at 08:44. The opportunities for growth and expansion are significant.. Cucina Italiana and Brio Tuscan Grille restaurant chains in the United States. purchase this single case. Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. The deal is the latest example of operators finding opportunity where others see severely distressed concepts. Related: Full-service same-store sales down an average 74%, Black Box says. Executives with FoodFirst Global Restaurants were not available for comment. Salaries for the Operational Excellence Coach will be influenced by many factors. Foodfirst Global Restaurants, Inc. Among his assignments is determining whether a sale of FoodFirst would be a better option than a liquidation. Two other interested parties dropped out of the pursuit of an acquisition at that time, according to the court filings. The parent company of Brio Tuscan Grille and Bravo Cucina Italiana has temporarily closed 71 of its 92 restaurants due to the novel coronavirus pandemic. FoodFirst Global Restaurants Inc. filed on April 10 in the U.S. Bankruptcy Court Middle District of Florida, according to court documents. 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. Email:bankruptcy@shukerdorris.com 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. 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Italian Kitchen from FoodFirst Global Restaurants. FoodFirst Global Restaurants | 830 followers on LinkedIn. A class-action lawsuit filed in New York involved over 500 employees and the Company settled the case for $1.6 million. ORANGE-FL 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. Case DetailsPartiesDocumentsDockets Case Details Case Number: 6:20-BK-02159 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. Number 8860726. 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. CEO Steve Layt, a former Pizza Hut executive, took over in late January to right the ship. FoodFirst Global Restaurants is the parent company of Brio Italian Mediterranean and Bravo Cucina Italiana. The changes did not have the intended effect as sales dropped to $307 million in 2019. 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. The company said Blum, after the brands went private earlier that year. You will be charged The mission of Food First is to end the injustices that cause hunger. 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. FoodFirst now plans to refresh the brands. GP provided the funding. Do not sell my personal infoPrivacy PolicyContact UsRSS, Robert Earl group agrees to buy 45 restaurants from Bravo and Brio's parent in $29M deal. BBRG sold for about $100 million[6] and their shareholders received $4.05 per share in cash. Fax : (407) 648-6323 Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. When you purchase a $50 Gift Card online, receive $20 in Bonus Cards! 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. The pandemic is creating enormous disruption throughout the economy, and the restaurant industry as a whole is especially affected, the company said in court documents. Dec 3, 2022. Prior to that, he was president of Applebees. The number of Ruby Tuesday locations has decreased significantly as a result of the pandemic. In order to save jobs and the viable Restaurants it will be necessary to pursue a company sale and an accompanying Management Services agreement.. restaurants have a Roman ruin style dcor and an open, Italian style kitchen focusing primarily on pastas and pizzas.[3]. Sign up here. Both chains are owned by the same parent company, FoodFirst Global Restaurants. That turnaround process was interrupted by the COVID-19 pandemic, forcing the bankruptcy. Parent company FoodFirst Global Restaurants subsequently filed for Chapter 11 bankruptcy and hinted the closures of the remaining 21 locations may be coming in the near future. 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. The operator of Planet Hollywood and Buca di Beppo is paying just $50,000 in cash for FoodFirst Global Restaurants. The front-of-house team takes a friendly and informal yet professional . We believe that focus will create a virtuous cycle that will quickly result in superior profitability. Krystal had been operating under bankruptcy protection since January, with $65 million in debt. Salaries for the Operational Excellence Coach will be influenced by many factors. Find Assistant Managers and bring them on board. Since then, the company has reopened seven more units. FoodFirst oversees Brio Tuscan Grille, which was renamed Brio Italian Mediterranean, and Bravo Cucina Italiana, which was renamed Bravo Fresh Italian. Restaurants Multi Location Business Find locations Additional business information Believed to be out of business: According to information. EE has also been creating virtual restaurants that offer food for delivery and takeout only. 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. 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. Most of the shuttered Bravo and Brio restaurants were closed as of March 20, when the COVID-19 crisis had already prompted many states to shut restaurant dining rooms. 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. 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. Brio and Bravo operate 110 . Even after states began reopening, as many . Get todays need-to-know restaurant industry intelligence. 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Fifty-three units are still under lease. Tax ID / EIN: xx-xxx6328, R Scott Shuker 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. Wall Street Deli #5958 of 8485 places to eat in Columbus. The goal is first to rebrand both Bravo and Brio, [] Click the link to learn more and purchase yours today: fal.cn/3u96i. FoodFirst Global Restaurants is the parent company of Brio Italian Mediterranean and Bravo Cucina Italiana. The business' former parent company, FoodFirst Global Restaurants Inc., filed for Chapter 11 bankruptcy protection in April 2020 following months-long troubles related to labor costs, worker . A total of $ 5.6 million in Columbus will also be repositioned renamed... Million that month opportunities for growth and expansion are significant.. Cucina Italiana Brio! Orlando, Florida, Kentucky, Michigan been operating under bankruptcy protection since January, $... 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