State and local restrictions forced a 100 percent drop in revenue for three months. He said BarFly was meeting those challenges until the COVID pandemic arrived. When BarFly filed for bankruptcy in June, founder Mark Sellers attributed the company’s decline to an increase in competition and saturation of the craft beer market. Our goal is to focus efforts around the company’s key markets and ensure HopCat, Stella’s, and Grand Rapids Brewing Company remain a thriving part of these communities.” “We strongly believe in each restaurant concept and intend to return the company’s focus to providing a unique, best-in-class customer experience. “We know the business extremely well from our experiences over the last five years,” Travis Baldwin, founder of Congruent, said in a statement.
BarFly Ventures, parent of HopCat, Stella’s Lounge, and Grand Rapids Brewing Company, has emerged from bankruptcy, selling for $17.5 million to private investment firms Congruent Investment Partners and Main Street Capital.Ĭongruent and Main Street, previously lenders to the company, will operate 11 units under the name Project BarFly LLC.
0 kommentar(er)
