Tampa, Fla. — As of June 7, 2020, more than 760 company-operated U.S. restaurants (approximately 74% of U.S. restaurants) have reopened with limited in-restaurant dining capacity in accordance with local mandates, according to a business update from Bloomin’ Brands, Inc. “Since the onset of the pandemic, we have been nimble in adapting our business,” says David Deno, chief executive officer. “This included a pivot to an off-premises model as dining rooms were forced to close. We were able to triple our off-premises sales per restaurant while our dining rooms were …
restaurants
— By Christine Cunning, CIC — Considerations for restaurants converting to delivery during coronavirus. These are incredibly challenging times for individuals and small businesses across the country. Few industries have been hit as hard as the restaurant industry. Often working on short margins in the best of times, the industry encounters numerous roadblocks ranging from weather, a sometimes fickle and impatient clientele and stiff competition. These challenges can all also be viewed as opportunities to outperform and shine. The developments caused by this recent state of pandemic has …
San Diego — Garden Fresh Restaurants, LLC, operating as Souplantation and Sweet Tomatoes, is liquidating all assets under their Chapter 7 Bankruptcy filing. The chain, which employed thousands, was a popular place to dine with self-service food bars but was not able to survive the impact of the COVID-19 pandemic and permanently closed all 97 restaurants and three distribution centers nationwide in early May. It is to-date the largest restaurant bankruptcy and liquidation as a result of the pandemic. The restaurants’ equipment and other contents are being auctioned online from …
Lexington, Ky. — A&W Restaurants posted double-digit, year-over-year sales in May, with some franchise locations doubling their sales. Other burger chains, on average, managed only a 2% increase, according to Black Box Intelligence. The iconic brand’s performance comes as it reduces royalties for new franchisees. The incentive program lowers royalties in the first year of all new development agreements from the standard 5% to 3%. Second year royalties are 4%. Initial fees on multi-unit agreements also are being discounted. “The incentives give franchisees extra cushion in their first few years …
Riverside, Calif. — Farmer Boys®, the farm fresh fast-casual chain, has named David Wetzel, its current senior vice president of operations, as its new president and chief operating officer. The promotion comes alongside the announcement that Farmer Boys’ current president and COO, Karen Eadon, has retired after 6 years with the company and nearly 40 in the restaurant industry. In his new role as president and COO, Wetzel will be responsible for driving overall brand strategy, corporate and franchised development and restaurant performance. Wetzel joined the Farmer Boys team in …
Toronto — TouchBistro, an all-in-one POS platform for restaurants, has hired John Doolittle to join its executive leadership team as chief financial officer. As CFO, Doolittle will guide the transformation of TouchBistro’s financial structure to prepare for its future growth, including operational strategy, regulatory and disclosure planning, tax restructuring and management of capital markets. Most recently, Doolittle was CFO at OpenText, a global software company with a $10 billion market capitalization. He also held many senior finance roles during 22 years at NORTEL, a multinational telecommunications and data networking equipment …
— By Ahmed Abouelenein — Today, ghost kitchens are more important than ever. Early on, The Halal Guys embraced the possibilities inherent in ghost kitchens as a tool to expand the reach of our business and grow revenue. We now have become one of their leading proponents for several reasons. In essence, ghost kitchens are 100% delivery-only facilities, alleviating our brick-and-mortar and cart locations, especially during peak times. They help take the pressure off our retail businesses. As a result, our brick-and-mortar locations have been able to wholly focus …
Salt Lake City — Mercato Partners has launched its inaugural food and beverage fund, Savory. This new fund of $90 million will make investments into compelling, up-and-coming restaurant concepts by providing access to capital together with a team of experienced industry professionals to fuel growth and operations. To create this unique investment practice, Mercato Partners founder Greg Warnock partnered with restaurant industry veteran Andrew K. Smith to lead the newly formed fund along with several members of his leadership team. Savory combines the experience of Smith and his team in …
Greenwood Village, Colo. — Red Robin Gourmet Burgers, Inc., a full-service restaurant chain, expects to have reopened approximately 270 dining rooms with limited capacity by June 7, 2020, representing approximately 65% of currently open company-operated restaurants. “With our relentless focus on health and safety for our team members and guests, we are continuing to make progress reopening our dining rooms across the country,” says Paul J.B. Murphy III, Red Robin’s president and chief executive officer. “To build on the momentum we are experiencing in off-premise and dine-in sales, we are …
Redwood City, Calif. — Presto, known for its in-house ordering tablets, has pivoted its business to help out the restaurant industry and is now offering a free Contactless Dining kit. The new kit enables restaurants to provide an end-to-end contactless in-house dining experience to guests. Guests can view the complete menu, place orders and pay at the table — without the need for any human contact. Free to order, the kit is easy to implement and use. Guests can use their personal mobile devices to scan NFC tags and QR …