Saturday, September 6, 2008

Fox Sports Grill's Majority Owner Files For Chapter 11 Bankruptcy Protection

Westlake Village, California based B&B Restaurant Ventures LLC recently filed Chapter 11 protection with the U.S. Bankruptcy Court. B&B holds an 80 % stake in the seven unit chain with Fox Broadcasting Co. owning the remaining 20%. In recent months two locations have closed in Irvine, California and Nyack, New York. The Irvine location was the first to open and at one point was a large revenue producer but heavy construction in the area surrounding the restaurant caused a huge downturn in business which is said to be the main cause of the closure. Their Atlantic Station location is said to be their top producer and not scheduled to close. This news that their Atlantic Station location is their top revenue producer comes as a complete shock given that people don't believe that Atlantic Station does well nor was it the right mix of tenants. For the moment, I'll give them props as Fox Sports Grill appears to be a hit where so many other establishments have missed. Repeat Atlanta!

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