Dec 17, · The Newton-based UFood Restaurant Group, which operates UFood Grill locations throughout Boston and in four other states, has filed for karacto.xyz Boston Business Journal reports that news, says the company's stock had been trading "in the pennies" and notes that the company's founder and CEO resigned last month. So will UFood Grills start closing? Dec 18, · UFood Restaurant Group, the parent of UFood Grill, said the prolonged economic downturn aggravated by a pair of underperforming company stores prompted it to file for Chapter 11 bankruptcy karacto.xyz: Paul Frumkin. FT: And UFood went through bankruptcy reorganization. Rincione: There was a bankruptcy. My company, Healthy Acquisitions, took it out of bankruptcy; we bought the assets in The difficult part of the brand is the black cloud. There is a bankruptcy, but that was a previous group that had bought the brand. Trying to fix that is not an easy task.
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Bankruptcy Code in the United States Bankruptcy Court for the District of Massachusetts in order to preserve its operations and to resolve its liquidity issues in the face of the slow recovery from the current economic downturn. Other members of the UFood Group including its affiliates and franchised stores in Massachusetts, Ohio, Texas, Utah, and Maryland have not filed for protection. The company's financial troubles stem from a number of factors that prevented the anticipated growth and caused some of the company's stores to be unprofitable for a significant period of time, resulting in the company's current liquidity problems.
The company has obtained a financing facility that is likely to be sufficient to support it during the Chapter 11 process, and the company's restructuring plan has the support of its lenders.
Day-to-day operations and business will continue throughout the country as the company continues to provide its customers with the highest quality and healthiest food at the most reasonable price. The Chapter 11 process will provide the company with the opportunity to restructure its finances and execute on its business model to provide sustainable profits and long-term growth.
The company looks forward to continuing its relationships with its customers, vendors, and franchisees in the process of shaping the long-term success of the UFood brand.
Industry News December 17, Finance UFood Grill. Fast Food. Emerging Concepts. Drive Thru. Business Advice. There are two weeks of hands-on training after that. The UFood Grill team will also go over possible locations and real estate selection with franchisees who are not sure where to open a store.
After opening, UFood Grill provides marketing and operational support to franchise owners. Rincione says that joining the UFood Grill company is similar to joining a family, not a business.
For more information about franchising opportunities with UFood Grill, visit www. UFood Grill. Fast Food. Emerging Concepts. Drive Thru. Business Advice. Employee Management.
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