Bankruptcy chain rebound with a new location
Despite the deposit of Chapter 11 of the Protection of Bankruptcy, this healthy Mediterranean channel is charged in advance.
Afterdeclare bankruptcy, Fresh Mediterranean Garbanzo announced that it would open a new shop in aairport-A risky movement to see because it is a location that always emerges less trapping traffic during the pandemic coronavirus (which also explains the serious financial losses of the chain this year).
The beloved chain, known for itsGreek inspired cuisine, has locations throughout the country. He tabled Chapter 11 Protection against bankruptcy earlier this month due to monstrous financial setbacks. The casual restaurant based on Colorado suffered from a little more spectacular financial difficulty as other channels during coronaviruses, largely because of the location of the majority of its locations: mainly in shopping centers, airports and universities.
CEO James Park saidDenver Business JournalThat 48% of Garbanzo Mediterranean fresh stores are located at airports and universities, many of which have never reopened after the initial closure in March. Fortunately, all 12 of these locations are set to reopen at the end of August. Nevertheless, it was necessary for the channel to deposit nearly half of its sites were unable to bring revenue over the last five months - associated with the unreachable owners' challenge to lower rent.
Bankruptcy did not stop the chain of the future. In fact, the park has ambitious goals for the chain for the rest of the year and in 2021. It plans to open six new stores,with an openingthis week At Contest B at Denver International Airport.The chain, which made its debut during the 2007 recession, will also look for more franchise partners to help them recover from the financial shots it has already suffered this year.
"It's probably a humiliating experience. But I condemned myself in the brand. And with the combination of our partners and our pipeline, we really believe that Garbanzo is well placed to go out on top," the park said in an interview withDenver Business Journal. "It's not the end. It's a new start."
Thenew location is the first Fresh Mediterranean Garbanzo to offerbreakfast optionsincludingGreek yogurt Perfect, bowls of construction balls, and even a range of healthy foods and tastes such as Hummus snacks and Greek salads called "Flyers Frequent". While an airport is a non-traditional place to have a restaurant, vice-president of chain marketing, Devin's manager, describes the new development strategy improved as the opportunity to increase traveler access to options. Healthier food at the airport, an environment that is usually filled with pre-packaged and treated items.
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