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By Chloe s London restaurants running as usual after US company files for bankruptcy By Chloe UK’s London restaurants are unaffected by US company By Chloe filing for bankruptcy and will re-open as soon as restrictions allow, say the company. The vegan restaurant brand operates four London locations in the capital, in Covent Garden, Oxford Circus, Tower Bridge and The 02, operated under license by Middle Eastern F&B group Qoot International. During Tier 3 the company is operating ‘a fully functioning London-wide take away and delivery service’ with sites due to reopen when permitted. By Chloe filed for a voluntary financial restructuring designed to position it for future growth and long-term success. The restaurant group has obtained new working capital financing from a consortium of its existing investors that it says will allow it to continue operating and supporting its employees during the process. ....
The chain has 14 locations in the US, along with two international spots. By Chloe will seek to sell itself, and was loaned $3.25 million by investors to fund the process, according to The Wall Street Journal. As part of the proceedings, Jimmy Haber stepped down from the board and his role as interim CEO, with Catey Mark Meyers replacing him as interim chief executive. Popular vegan restaurant chain By Chloe is filing for bankruptcy. According to The Wall Street Journal, BC Hospitality Group Inc., parent company for the chain, filed for chapter 11 bankruptcy protection this week and is exploring a sale. ....