We are also thankful for our loyal guests and teammates – and vendor and landlord partners who have been working hard to make our progress possible,” Ned Lidvall, CEO of Project BarFly, said in a statement. “The whole management team and I are very excited about the new owners. We think it’s a great fit for the company, and the energy and collaboration they bring will only enhance our recovery and growth. HopCat locations opened in Lincoln, Nebraska, and Indianapolis over the summer. It also shut down some of its locations.ĭuring the pandemic, the company says it continued working hard to find new owners, reopen restaurants and create an environment where customers felt safe.
This is much-needed good news for the local community and restaurant industry as a whole.”Ĭongruent Investment Partners and Main Street Capital have been lenders to the company since 2015, according to a press release.īarFly Ventures announced that it was filing for bankruptcy back in June after the COVID-19 pandemic created challenges for the restaurant industry. “We intend for these restaurants to succeed and very much believe the company can return to growth as the pandemic subsides. We are also thankful for our loyal guests and teammates - and vendor and landlord partners who have been working hard to make our progress possible.”įor now, select locations are allowing dine-in and alternative options are available as new owners are focusing on off-premise sales and restoring hours of operation at all locations.“HopCat, Stella’s and Grand Rapids Brewing Company are important to both Grand Rapids and the state of Michigan,” Nick Meserve, managing director of Main Street Capital, said in a statement. "We think it’s a great fit for the company, and the energy and collaboration they bring will only enhance our recovery and growth. “The whole management team and I are very excited about the new owners," said Ned Lidvall, CEO of Project BarFly, in the release. BarFly Ventures also owned Stella's Lounge and Grand Rapids Brewing Company. HopCat - Grand Rapids Beer Bar, American Restaurant, Brewery, Burger Joint. See activity, upcoming events, photos and more.
survival of the fittest'Īlthough Sellers predicted filing for Chapter 11 bankruptcy would have little to no impact on the business' daily operations, the reality of coronavirus would prove to be lethal to the restaurant industry despite alternative methods of operating like curbside pickup and delivery. See whats currently available on HopCat - Grand Rapidss beer menu in Grand Rapids, MI in real-time. More: Owner of downtown Detroit's SavannahBlue restaurant: 'This is. Build your favorite meal and we'll have it waiting ORDER HOPCAT NOW. HopCat is now taking to-go orders online. “Our goal is to focus efforts around the company’s key markets and ensure HopCat, Stella’s and Grand Rapids Brewing Company remain a thriving part of these communities.” Order Takeout from HopCat Grand Rapids - Downtown. We strongly believe in each restaurant concept and intend to return the company’s focus to providing a unique, best-in-class customer experience,” said Travis Baldwin, Founder of Congruent Investment Partners, in a release Tuesday. “We know the business extremely well from our experiences over the last five years. The owners plan to stay true to the company's vision. Investors Main Street Capital and Congruent Investment Partners, which were previous lenders to the company from 2015, are acquiring the company under a new operating partnership, Project BarFly. More: HopCat in Royal Oak to permanently close, seek new location Despite the chain's massive success statewide and plans for expansion, it has experienced a tumultuous few months as it struggled to keep the lights on in its nine HopCat locations.
After filing for Chapter 11 bankruptcy in June, BarFly Ventures LLC, the parent company of Grand Rapids-based craft beer. The deal comes more than four months after BarFly filed for bankruptcy protection in June, when owner-founder Mark Sellers also warned officials that Michigan can expect "a giant wave of bankruptcies" in the hospitality industry in the near future. HopCat emerges from bankruptcy under new ownership. Grand Rapids-based BarFly Ventures sold its assets - including seven HopCat gastropubs in the state, one in Nebraska and another in Indiana - to new owners for $17.5 million, months after the company filed for bankruptcy. In a coronavirus-era miracle, HopCat restaurants will remain open after a new deal was announced Tuesday.