Thursday, December 31, 2009

Thrive No Longer Thriving, Files For Chapter 11

Thrive restaurant and lounge, on Marietta Street in downtown Atlanta, has filed for Chapter 11 bankruptcy following months of declining sales and the departure of part owner and GM Adi Allushi. While many think Adi is a total tool, he was able to appeal to and draw in a young demo to the downtown eatery, something they seem incapable of doing in his absence. Last year's tornado had an obviously negative effect, not to mention diminished convention business in a souring economy. So while it's safe to say Allushi had an impact, in no way do I want to imply that he "made" the place. Jeff Safari, the co-founder and major financier of the concept, also funded the ill-fated and now closed Hot Stix Stir Fry in Lindbergh City Center. A cheap knock-off of the hugely successful Chow Baby New American Stir Fry from Mike Blum, the Lindbergh Hot Stix closed less than a year after opening. Keeping in mind what allegedly happened when Hot Stix closed, lets hope Thrive's employees are prepared. While Chapter 11 bankruptcy leaves open the possibility of re-emergence, I seriously doubt that this is in the cards for Thrive. ToNeTo Atlanta

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