![]() We strongly believe in each restaurant concept and intend to return the company’s focus to providing a unique, best-in-class customer experience,” said Travis Baldwin, Founder of Congruent Investment Partners, in a release Tuesday. “We know the business extremely well from our experiences over the last five years. The owners plan to stay true to the company's vision. Investors Main Street Capital and Congruent Investment Partners, which were previous lenders to the company from 2015, are acquiring the company under a new operating partnership, Project BarFly. More: HopCat in Royal Oak to permanently close, seek new location Despite the chain's massive success statewide and plans for expansion, it has experienced a tumultuous few months as it struggled to keep the lights on in its nine HopCat locations. The deal comes more than four months after BarFly filed for bankruptcy protection in June, when owner-founder Mark Sellers also warned officials that Michigan can expect "a giant wave of bankruptcies" in the hospitality industry in the near future. Grand Rapids-based BarFly Ventures sold its assets - including seven HopCat gastropubs in the state, one in Nebraska and another in Indiana - to new owners for $17.5 million, months after the company filed for bankruptcy. In a coronavirus-era miracle, HopCat restaurants will remain open after a new deal was announced Tuesday.
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