Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
  • Recruiting
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
  • Recruiting
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home News

B. Riley Serves as CRO for Fresh Acquisitions in Chapter 11 Process

byPhil Neuffer
April 21, 2021
in News

Fresh Acquisitions, which operates Furr’s Fresh Buffet, and several of its affiliates, including Buffets LLC and its subsidiaries, which operate Ryan’s, Old Country Buffet, Tahoe Joe’s Famous Steakhouse and Hometown Buffet, filed for Chapter 11 bankruptcy protection to strengthen operations and recapitalize their businesses. The companies will have access to additional liquidity through a post-petition debtor in-possession loan being extended by VitaNova Brands.

B. Riley Advisory Services is serving as chief restructuring officer and financial advisor and Gray Reed is acting as legal counsel for the companies.

“As with almost every one of our peers, buffet restaurants took the brunt of the loss of sales during the pandemic and as such, the path to success requires hard choices to be made, including the rationalization of our overall footprint,” Jason Kemp, co-founder and CEO of VitaNova Brands, said. “The precipitous decline in sales at the restaurants resulting from occupancy restrictions and the banning of family-style buffet dining forced the companies to take extraordinary steps, including the closing of multiple locations.”

The companies expect to continue operating in the normal course during their Chapter 11 cases and believe a number of the brands, including Furr’s Buffet and Tahoe Joe’s, can take advantage of the expected post-COVID-19 recovery.

“We are looking forward to emerging from bankruptcy as a stronger operator with a focus on the Tahoe Joe’s and Furr’s AYCE Marketplace banners. These great brands serving great food will create a platform for future growth,” Kemp said.

The cases are pending in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division.

VitaNova Brands is a multi-concept operator of independent restaurant brands, based in San Antonio, Texas.

Previous Post

Houlihan Lokey Hires Guskind as Managing Director, Further Expanding Healthcare Group

Next Post

Katten Names Smith Global Chair of Corporate Department

Related Posts

Deal Announcements

Origis Energy Closes $900MM Corporate Credit Facility

June 19, 2026
Deal Announcements

Tiger Finance Provides $45MM in Working Capital to Glossier

June 19, 2026
Deal Announcements

Sable Offshore Commences New Senior Secured Term Loan

June 19, 2026
Deal Announcements

Knight Therapeutics Repays Revolving Credit Facility with National Bank of Canada

June 19, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
News

ELFA and SFNet Create Joint Statement on Proposed Basel III Regulatory Capital Rule

June 19, 2026
News

Benefit Street Partners Closes Milestone CLO 50 with $500MM

June 19, 2026
Next Post

Katten Names Smith Global Chair of Corporate Department

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Gordon Brothers

The Unit Economics of Deal Origination: How Spread Compression Is Reshaping Middle Market Lending Platforms

June 5, 2026

TMA Leading Edge Series with Winston Mar: When Management Fails

June 5, 2026

When Commercial Lending Forgets the Customer, It Forgets the Relationship

June 8, 2026

After First Brands: How the Largest Private Credit Fraud in History Is Rewriting Middle Market Underwriting

June 15, 2026

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
  • Magazine
    • Magazine Issues
    • Nominations
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years