![]() “The whole management team and I are very excited about the new owners,” Ned Lidvall, Project BarFly’s CEO, says in a release. Both Congruent and Main Street Capital were previous lenders to BarFly Ventures going back to 2015 when the company began its rapid expansion across the U.S. Louis, Missouri.Ĭurrently, Hopcat operates 11 locations in the Midwest, all of which are open or in the process of reopening for in-person and carryout service. In 2020 alone, the chain has closed three restaurant locations in Royal Oak Port Saint Lucie, Florida and St. Under the entity Project BarFly LLC, Congruent Investment Partners and Main Street Capital bought the restaurant chain and its sibling establishments Stella’s and Grand Rapids Brewing Company for $17.5 million.įacing mounting debt and a challenging, pandemic-strained 2020 economy, Hopcat’s parent company BarFly Ventures filed for Chapter 11 bankruptcy protection in June. ![]() ![]() A private equity firm has scooped beer bar chain Hopcat out of bankruptcy.
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