LOS ANGELES (July 17, 2024) – One Table Restaurant Brands (OTRB) announced today that it, along with certain of its affiliates, have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code.
OTRB, which, through certain affiliates and subsidiaries, operates 15 Tocaya and 24 Tender Greens restaurants, has no plans to close any of its locations at this time and will continue to operate “business as usual” throughout the restructuring process.
Prior to filing, OTRB reached an understanding with its secured lender to support the company’s operations through a sale process in the bankruptcy. This plan will provide a sustainable path forward for its two fast-casual restaurant brands, and OTRB intends to move through the bankruptcy process as quickly as possible.
“We ran every possible option to the ground in order to avoid bankruptcy, but ultimately, restructuring our debt is the best decision for our team members, valued vendor partners and loyal guests,” said Harald Herrmann, CEO of One Table Restaurant Brands. “We expect to emerge from this restructuring process stronger and better positioned to prosper in our hyper-competitive industry.”
OTRB is advised by Shulman Bastian Friedman & Bui LLP as legal counsel, CR3 Partners as financial advisor, Hilco Corporate Finance as investment banker and Keen Summit as lease restructuring advisor.
OTRB and certain of its affiliated entities filed their petitions with the U.S. Bankruptcy Court in the District of Delaware.
Media inquiries may be sent to press@otrb.com, press@tendergreens.com or press@tocaya.com.
For additional information, including:
- Case information
- Court updates
- Dates & Timelines
- Company communications
- Contact Information
Please visit: Cases.stretto.com/onetable
Call: 855.513.4115 (Toll Free) & 707.302.6128 (International)
Email: OneTableInquiries@stretto.com
About One Table Restaurant Brands
Based in Los Angeles, California, One Table Restaurant Brands was formed in 2021, comprised of Tender Greens and Tocaya.
