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. An independent contractor named Robert Morrison has been brought in to serve as chief restructuring officer. GP Investments and Restaurateur Bradley D. Blum have formed a new restaurant company, FoodFirst Global Restaurants Inc. join Earl Enterprises' existing collection of restaurants that include Planet Hollywood , Buca di Beppo , Bertucci's , Earl. 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. Brad has a proven track record with multiple restaurant companies, said Antonio Bonchristiano, c.e.o. 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The Company offers pasta dishes, steaks, chicken, seafood, and pizza's. /sites/all/themes/penton_subtheme_nrn/images/logos/footer.png. . Purchase this single case for a one-time fee of 39.95 and receive updates for the life of the case. The COVID-19 outbreak could not have come at a worse time for the company, Layt said. It will take months for even the best performing restaurants to get back on their feet. The best choice for customized playlists for restaurants. The company was days away from a recapitalization when the pandemic hit, according to Layt. FoodFirst was formed in May 2018 by Blum, a onetime president of Olive Garden, as a holding company of health-oriented restaurant concepts. FoodFirst Global Restaurants is the parent company to Brio Tuscan Grille Bravo Cucina Italiana. This case was filed in U.S. Bankruptcy Courts, Florida Middle Bankruptcy. Senior data editor Alan Liddle contributed to this report, /sites/all/themes/penton_subtheme_nrn/images/logos/footer.png. (407) 337-2060 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. FoodFirst Global Restaurants, Inc. May 2018 - Apr 2020 2 years. The company said Blumwill remain an owner-partner as the company plans to reposition both casual dining brands. FoodFirst now plans to refresh the brands. 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. That begins with our almost 10,000 employees who represent the face of the Brio and Bravo brands. The Operational Excellence Coach I salary range is $36,558 to $48,807 in Grand Forks, North Dakota. 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. The best choice for customized playlists for restaurants, Built upon our French heritage, Bel Brands USA works hard to complement the. 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. Blum invested in the . Nation's Restaurant News is part of the Informa Connect Division of Informa PLC. Related: Full-service same-store sales down an average 74%, Black Box says. 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. Current and former employees report that FoodFirst Global Restaurants provides the following benefits. The opportunities for growth and expansion are significant.. This inspired partnership that has created FoodFirst Global Restaurants represents an entrepreneurial endeavor with all parties contributing significant capital and professional skill, Mr. Blum said. Brio and Bravo operate 110 . login, subscribe now, FoodFirst Global Restaurants, Inc. But the company will also new brands from statch as well as look for acquisitions to add to the group down the road. Orlando, FL 32801 | FoodFirst Global Restaurants is the parents company of Bravo Fresh Italian and Brio Mediterranean Italian. Fax : (407) 337-2060 The chains had generated $400 million in annual systemwide sales in 2017. FoodFirst is operating with 120 hourly and salaried employees. FoodFirst is the latest in a string of companies that have been recently bought out of bankruptcy. The company's filing status is listed as Active and its File Number is 920-027. Registered in England and Wales. 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. 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 . Sign up to receive texts from Restaurant Business on news and insights that matter to your brand. GP provided the funding. The 71 Bravo and Brio restaurants closed March 20 as jurisdictions around the U.S. began ordering restaurants to shut downdine-in services. Subscribe for a full year and receive two months free! purchase this single case. This harmonious blend of classic and contemporary also extends to Klaus Erfort's cuisine. 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. Its unknown how consumer behavior will change, he said. Where is FoodFirst Global Restaurants headquarter and corporate office address? The announcement comes after the company closed 71 of its 92 U.S. locations in March, and furloughed 6,000 employees, with open stores using a limited carryout and delivery model. However, growth and traffic declined as consumer preference shifted to quick-serve and fast-casual. FOODFIRST GLOBAL RESTAURANTS, INC. is an Arizona Foreign For-Profit (Business) Corporation filed on April 4, 2008. FoodFirst Global Restaurants is Restaurants and Bars business from United States that founded in 1987 (35 years old in 2022), FoodFirst Global Restaurants business is focusing on Food Quality. 121 South Orange Avenue Italian Kitchen from FoodFirst Global Restaurants, also based in Orlando.The purchase price is reported to be about $30 million. Complaints Is this Your Business? On 04/10/2020 FoodFirst Global Restaurants, Incwas filed as a Bankruptcy - Chapter 11 lawsuit. FoodFirst was formed in May 2018 by Blum, a onetime president of Olive Garden, as a holding company of health-oriented restaurant concepts. BRIO and BRAVO! Profits were eaten by high rents and rising food and labor costs. Orlando, FL 32801 meat; poultry; chicken; cheese; pork; sandwiches; salads . FoodFirst Global Restaurants' board of directors will include Mr. Blum as chairman and CEO, Bonchristiano as vice chairman, Bob Mock (former Darden executive) as chief operations officer, and . Good Food and Good Times -- But Are They Good Stocks? FoodFirst oversees Brio Tuscan Grille, which was renamed Brio Italian Mediterranean, and Bravo Cucina Italiana, which was renamed Bravo Fresh Italian. Sign up here. Sign up for a free account to get access to data on case creditors, search for cases, and more. The latest from Restaurant Business, sent straight to your inbox. 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. Email:bankruptcy@shukerdorris.com 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. Do not sell my personal infoPrivacy PolicyContact UsRSS, Brio and Bravo parent files for Chapter 11 bankruptcy after closing 71 units, Management of the company, FoodFirst Global Restaurants, said the chains had been struggling with sales and profit declines before the COVID-19 pandemic. Sign up here. [7], On April 10, 2020, FoodFirst Global Holdings Inc. filed for voluntary Chapter 11 bankruptcy protection in the Middle District of Florida. The documents indicate that 29 Brio and Bravos are currently in operation, with another 53 closed restaurants still under lease. Get todays need-to-know restaurant industry intelligence. Once the crisis is over, it will still be challenging for the restaurants that remain open. 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. A week later, Fortress agreed to purchaseCraftworks Holdings, parent of Logans Roadhouse and Old Chicago, for $93 million after originally offering $138 million. 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. Related: FoodFirst Global Restaurants, parent to Brio Tuscan Grille and Bravo Cucina Italiana, names Steve Layt CEO. The number of Ruby Tuesday locations has decreased significantly as a result of the pandemic. Bravo! The improvement process was radically altered due to the current international health crisis, creating massive restaurant closings and employee losses throughout the country via state ordered shelter-in-place requirements, which exacerbates the need to reduce the Restaurants footprint in order to maintain the strongest and most viable locations, FoodFirst said in the filing. BRAVO first opened in 1992 while BRIO was founded five years later. LinkedIn Email Finder Find emails from LinkedIn. FoodFirst filed for Chapter 11 protection on April 10. GP had been the source of financing of Brio and Bravos purchase in May 2018. 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. Steve Layt is the company's chief executive officer. BBRG sold for about $100 million[6] and their shareholders received $4.05 per share in cash. FoodFirst Global Restaurants, Inc. is a collaboration between restaurateur/owner-partner Brad Blum and GP Investments, Ltd. At FoodFirst Global Restaurants, we are building a platform to own. 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. 650M+ Contacts Search. FoodFirst now plans to refresh the brands. As part of the changes, headquarters moved from Columbus, Ohio, to Orlando, Florida, andnew Italian Mediterranean menus were implemented. Italian Kitchen from FoodFirst Global Restaurants, Inc. Financial terms of the transaction were not disclosed. 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The deal is the latest example of operators finding opportunity where others see severely distressed concepts. Court documents reveal that Earls Earl Enterprises (EE) approached FoodFirst around the time of the filing with an offer to manage the brands. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. FoodFirst Global Restaurants is located at 777 Goodale Blvd, Columbus, OH 43212, USA Similar Businesses Nearby BRAVO | BRIO Restaurant Group ( < 250 ft ) Restaurant 777 Goodale Blvd, Columbus, OH 43212, USA Mariane L Dorris 100% of job seekers rate their interview experience at FoodFirst Global Restaurants as positive. The full names of the concepts are Brio Italian Mediterranean and Bravo Fresh Italian. 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. restaurants have a Roman ruin style dcor and an open, Italian style kitchen focusing primarily on pastas and pizzas.[3]. The company will continue to close more units as it expects to reject a large number of leases soon. 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According to court documents, customer satisfaction increased, but labor costs, employee turnover, and a large number of underperforming restaurants sank sales volume and profitability. 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 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. Restaurants Multi Location Business Find locations Additional business information Believed to be out of business: According to information. Number of U.S. Office of the United States Trustee Web page addresses and e-mail addresses turn into links automatically. 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. From 2006 to 2010, the restaurants underwent aggressive expansion and reached 85 units. Our core values are: INTEGRITY. FoodFirst filed for Chapter 11 bankruptcy protection in early April after. We use cookies to provide you with a better experience. 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