The company remains committed to its goal of rehiring furloughed workers and resuming operations at its restaurants as soon as the health risks related to COVID-19 subside and government restrictions are lifted,” it said. He says he was unaware of the change because he was traveling. “We served about 500,000 meals in Portland last year and are working tirelessly to serve Green Machines and other signature dishes as we move through this unexpected crisis. Park thanked the restaurant company’s suppliers and customers for their outreach and support. From a terrace at the Japanese Garden framed by bonsai and maples, on the evening of August 23, the Portland elite gazed down on the city they run. [CDATA[ Out east, two sushi restaurants are also finding fresh new clientele — Kissaki in Water Mill, where a sushi robot molds rice, and Bamboo in Southampton, where there’s local fluke sushi … But Bamboo Sushi isn’t just widespread; the company has aimed to be a leader in the environmentally friendly seafood movement and claims to be the world’s first certified sustainable sushi restaurant. You have a choice of either classic American Chinese selections or classic Japanese including Sushi and Sashimi. © 2020 Diversified Communications. // . Anticipating an Oregon shutdown, Lofgren says he started to secure funding and renegotiate leases, helping the company brace for the economic fallout. 'sword way', 'sword path' or 'way of the sword') is a modern Japanese martial art, descended from swordsmanship (), that uses bamboo swords as well as protective armor ().Today, it is widely practiced within Japan and has spread to many other nations across the world. As first reported by the Portland Business Journal, Lofgren is suing Bain Capital’s Double Impact Fund and fund manager Christopher Cozzone for defamation and breach of fiduciary duty, among other things. This didn’t seem to concern the folks at Bamboo Sushi when they started to look for funding. Then add in the avocado and roll the nori. Sustainable Restaurant Holdings is the company behind Bamboo Sushi. “Mr. Bamboo Sushi. A casual experience bringing sustainable seafood to everyone. “Our goal is to emerge from this process as quickly as possible with a strengthened balance sheet and the necessary capital to rehire our furloughed employees and resume operations at our restaurants whenever it is safe to do so,” Park added. Bamboo Sushi founder seeks to change the way people think about seafood. At Bamboo Hyannis, we only use the freshest ingredients and authentic Chinese and Japanese spices to give you an authentic taste experience. Sustainable Restaurant Holdings, Inc. d/b/a Bamboo Sushi (“Bamboo Sushi” or the “Company”), based in Portland, Oregon with locations primarily in the Northwest, Bamboo Sushi owns and operates the world’s first certified sustainable sushi restaurants. Yiyang Hexiang Bamboo Co., Ltd: Our bamboo chopsticks are suitable for various Asian restaurants or supermarkets. Bain Capital, the private equity firm co-founded by former presidential hopeful Mitt Romney, hasn’t historically had a good reputation nationally: Once called “the worst of capitalism” by Rolling Stone and “bad for America” by Forbes, Bain was known for buying up profitable companies and stripping them for parts, reorganizing them to make a larger profit. Lofgren also claims Bain went back on its word by withholding funds unless the firm received additional shares in the company, pulling directly from the owners’ interests. • Lawsuit against Bain Capital [Official]• Ousted as CEO, Bamboo Sushi founder sues Bain Capital fund over alleged ‘hostile takeover’ [PBJ]• Bamboo Sushi founder raises the stakes in legal fight against investor Bain Capital [PBJ]• Bain Capital Has Invested in Bamboo Sushi — Here’s What That Really Means [EPDX], Lawsuit Claims One of the World’s Most Notorious Private Equity Firms Is Seizing Control of Local Chain Bamboo Sushi, Sign up for the We wanted to do something different in the area, but still bring the same high quality ingredients without the high prices. Take your bamboo mat and cover it tightly with some plastic wrap to stop the rice from sticking to the grooves of the mat. Bain has thus far invested USD 15 million (EUR 13.9 million) into SRH and has been trying to sell the business since March, according to Bloomberg. We encourage you to see and taste a variety of dishes and pass them around the table. We had a great time. 20-25,000Square feetNationalMarketPuttshack is part of a ground-breaking social entertainment brand founded by Adam Breeden, founder of Acebounce and co-founder of Flight Club and Steve and Dave Jolliffe, founders of Top […] Sortis also helped bring Rudy's Barbershop out of bankruptcy this year. Bain Capital Double Impact Fund owns roughly 35 percent of SRH, with former CEO and founder Kristofor Lofgren owns around 42 percent, according the bankruptcy petition filed in Delaware. “Bain further claimed that, unlike most private equity funds, its Double Impact Fund invested in long term growth rather than seeking a quick expansion and payoff,” the complaint reads. In the Portland area alone, there are five Bamboo Sushi locations, plus two Quickfish locations. We start with fresh seafood that gets delivered to us daily including wild pacific salmon and wild blue fin tuna. [CDATA[ COVID-19 has required the company to limit restaurant operations and has “significantly affected its ability to generate revenue,” Sustainable Restaurant Holdings said. Today, he owns Bamboo Sushi, a cozy, stylish eatery that's been rated as the most sustainable seafood restaurant in the U.S. Portland, Oregon, U.S.A.-based Sustainable Restaurant Holdings (SRH), has filed for chapter 11 bankruptcy. “Subject to approval from the Court, the DIP financing, combined with the company’s available cash, will provide sufficient liquidity for SRH to continue to compensate and provide benefits to its current employees and meet its post-chapter 11 filing obligations to vendors and other business partners,” SRH said. The restaurant is … The lawsuit also claims Bain is considering filing for bankruptcy or reorganizing the company, even though the lawsuit says “with multiple state and government stimulus packages and protective rules available to ride out the COVID-19 shutdown, SRH is well-positioned for a full recovery when the pandemic subsides.” According to the lawsuit, the new CEO, Matthew Park, has already laid off employees. As a young woman, I was fortunate enough to travel to Hong Kong and experience the taste of Chinese food far beyond my own imagination. A great meal of sushi rolls and chicken teriyaki. The world’s first sustainable sushi restaurant. You don’t have to be Jiro Ono, the sushi master in the 2011 documentary “Jiro Dreams of Sushi,” to turn out a maki roll with your own two hands. “We are facing the same challenges as many other consumer-focused businesses, especially those in the restaurant industry,” SRH President and Interim CEO Matthew Park said. The second location is opening Downtown early next year, on the corner of Southwest 12th Avenue and Stark Street. Every night, our chefs also craft location-specific specials featuring local, rare and hyper-seasonal ingredients. I grew up in a small village in Vietnam with the rich tastes and flavors from my ancestor's cooking. Lofgren planned to use the money to expand Bamboo Sushi and Quickfish, hoping to open locations in San Francisco and Seattle. We look forward to emerging from this process as a stronger company and continuing our business relationships for many years to come.”. stLight.options({publisher: "d264abd5-77a9-4dfd-bee5-44f5369b1275", doNotHash: false, doNotCopy: false, hashAddressBar: false}); Bamboo Izakaya: 1409 N.E. The restaurant is discussing when the dining room will open, said Judiaann Woo, director of communications and brand strategy for Sustainable Restaurant Group, which owns Bamboo Sushi. One of Portland’s more prolific chains, Bamboo Sushi and its poke-centic, fast-casual sibling, Quickfish, operate locations in Seattle, California, Phoenix, and Denver, as well as Oregon. Bain Fund Invests in Bamboo Sushi Parent April 12, 2018 Finding the Right Location in Today’s Changing Restaurant Landscape March 9, 2018 How to Identify Locations, Choose a Site, and Negotiate a Lease March 9, 2018 “In this environment, we simply are not able to generate sufficient revenue to meet our day-to-day and long-term obligations. After working in Destin for many years, Bamboo was founded in October 2007 by Joe Rice and Danny Ledford. Lofgren’s amended complaint is yet another attempt to manipulate and pressure Sustainable Restaurant Holdings (SRH) into paying him money he is not owed,” a statement from Sustainable Restaurant Holdings reads. However, SRH said it does not intend to close any of its 10 restaurants. : Quickfish. Shiny bamboo poles grace the little tangerine-colored foyer, while the walls of the dining room segue from soothing yellow-green to blue-gray and are punctuated by a streak of recessed red light. Bamboo: buffet was good - See 118 traveler reviews, 51 candid photos, and great deals for Hyannis, MA, at Tripadvisor. However, according to the complaint, it was only a few months before Bain Capital considered withholding $7.4 million of contractually promised funding unless the company quickly increased its profitability. The company continues to offer pick-up and delivery at several of its Bamboo Sushi locations in the Portland area. Can be customized according to your needs, we also have bamboo stick bamboo steamer etc, welcome to contact us. Bambu is all about sharing. Sushi rolls are 30% off during evening happy hour. The lawsuit claims that Bain had previously decided the accounting error was simply a mistake, as opposed to conscious fraud: While Lofgren was traveling in 2017, SRH needed about $900,000 in short-term cash, so Lofgren says he asked a banker to take $900,000 out of his account and send it to SRH. SRH reported about USD 18 million (EUR 16.6 million) in revenue in 2019 and listed between USD 1 million and USD 10 million (EUR 924,500 and EUR 9.2 million) worth of liabilities in its bankruptcy filing. Weighing in at a mere 55 seats, Sushi Aoi packs abundant style into its small space. Portland's restaurant scene took another hit this week as Sustainable Restaurant Holdings, the holding company for restaurants Bamboo Sushi and Quickfish, filed for Chapter 11 bankruptcy protection. Kendo (剣道, Kendō, lit. Part of the Sustainable Restaurant Group, which also owns sustainable seafood-focused Bamboo Sushi, the new izakaya is the first of two in the works so far. You may unsubscribe from our mailing list at any time. The Bamboo Grill serves up the best of Asian food in a very calm and peaceful atmosphere. The lawsuit claims Bain Capital postured as a socially conscious investment firm before instituting a “hostile takeover” of Sustainable Restaurant Holdings, which owns Bamboo Sushi. Environmentalist and UC Berkeley grad Kristofor Lofgren moved to Portland, Oregon, in 2006 to go to law school. Based in Portland, Oregon with locations primarily in the Northwest, Bamboo Sushi owns and operates the world’s first certified sustainable sushi restaurants. Lofgren was removed from his position as CEO in March 2020 and is suing the company for USD 4.7 million (EUR 4.3 million), alleging Bain of attempting to “loot the corporation,” according to Bloomberg Law. The history of 寿司(Sushi) began with paddy fields in Southeast Asia, where fish was fermented with rice vinegar, salt and rice, after which the rice was discarded. According to the lawsuit, fund manager Cozzone then insisted that the company open “five to six new locations within a short period of time.”, Then, coronavirus started to spread across the country, shutting down restaurants in cities around the world. Abhi Sainju, a native of Nepal who has operated Everest Sushi catering, is the executive chef. Bamboo Hyannis serves a mix of authentic Chinese and Japanese cuisine all in a relaxing atmosphere. Then, we can get the sushi rolling. They do have a luncheon special menu with very nice bento boxes and sushi combinations. The lawsuit says that, by April 2019, Lofgren felt obligated to agree to give a portion of his ownership shares to Bain to secure the capital to expand. He says the banker, unbeknownst to him, took $650,000 out of his personal account and the final $250,000 out of the company’s business line of credit. Back in 2018, SRH agreed to accept $15 million from Bain Capital “in exchange for a 23% ownership interest in the company,” the lawsuit reads. newsletter, Shoestring Budgets, Side Gigs, and a Ticking Clock: How Portland’s Unemployed Restaurant Workers Are Struggling to Survive, Extended unemployment benefits are set to expire this month, and Congress hasn’t approved another stimulus package, Where to Find Food and Drinks in the West Hills, Burgers, Bento, Pho, and more between downtown and Beaverton, Indonesian Restaurant Gado Gado was Burglarized Over the Weekend, Plus, Rimsky-Korsakoffee House hits its fundraising goal, and ORLA launches a legal fund for restaurants, suing Bain Capital’s Double Impact Fund and fund manager Christopher Cozzone for defamation and breach of fiduciary duty, Bain Capital that seeks out sustainable businesses like By Chloe, Cory Schisler called Double Impact the “the hippie flower children within Bain Capital,”, Ousted as CEO, Bamboo Sushi founder sues Bain Capital fund over alleged ‘hostile takeover’, Bamboo Sushi founder raises the stakes in legal fight against investor Bain Capital, Bain Capital Has Invested in Bamboo Sushi — Here’s What That Really Means, A New Pop-Up Is Serving Yogurt-Marinated Fried Chicken on Falafel Waffles, Star Oregon Brewer Sean Burke Opens New McMinnville Brewery, 39 Percent of Oregon Restaurants May Close in Six Months Without Federal Stimulus, Study Finds, A List of Portland’s COVID-19-Related Permanent Restaurant Closures. At Bambu, "traditional" and "conventional" are not the words we use to describe our menu — we hope that "delicious," "unique" and "satisfying" are. Bamboo Sushi has received broad acclaim throughout the restaurant industry for its focus on sustainability and deep commitment to environmental and social change through its food. var switchTo5x=true; Portland, Oregon, U.S.A.-based Sustainable Restaurant Holdings (SRH), has filed for chapter 11 bankruptcy. The lawsuit claims Bain Capital postured as a socially conscious investment firm before instituting a “hostile takeover” of Sustainable Restaurant … The suit also claims Cozzone undervalued the company for the share purchasing, claiming it was worth only $15 million as opposed to $40 million. Welcome to my restaurant! Bamboo Sushi is only open for takeout now as it eases into opening, though diners can eat their to-go food at the restaurant's outdoor patio. // ]]>// // < Barbershop... 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