In November 2020, the parent company of the CraftWorks restaurant chain, CraftWorks Holdings, LLC, filed for Chapter 11 bankruptcy protection. CraftWorks Holdings, LLC owns a variety of restaurant brands, including Old Chicago, Gordon Biersch, Rock Bottom, R Taco, and ChopHouse & Brewery.
The company initially announced that it had reached an agreement with its creditors and lenders to achieve a comprehensive restructuring. This restructuring plan included both the closing of certain restaurants and the refinancing of certain of the company’s debt obligation.
Unfortunately, by December of 2020, the company had to abandon the restructuring plan and filed for bankruptcy.
At this time, it is unclear the full impact that the bankruptcy will have on the CraftWorks properties. According to the company’s statement, “We have had to make the difficult but necessary decision to permanently close certain restaurants and hope to emerge from Chapter 11 a stronger company.
” As of right now, the company has closed a few locations, including Gordon Biersch in Austin, TX, and Rock Bottom in Montgomeryville, PA.
It is also unknown how the restructuring plan will impact the future of the chain. CraftWorks Holdings is currently in negotiations with potential buyers to help shape the future of the business. The company has not released an official statement on the future of the chain, but it is likely that more locations will close in the near future.
Is Rock Bottom out of business?
At this time, Rock Bottom has not gone out of business. In fact, they are still going strong! Rock Bottom first opened its doors over 20 years ago and has sustained a successful business throughout the years due to their unparalleled reputation for quality, flavor, and service.
They currently have locations in 25 states, offering a variety of craft beers and delicious pub food. Rock Bottom is dedicated to providing only the most delicious recipes with the highest quality ingredients, so customers can continue to enjoy the one-of-a-kind flavor they have come to expect.
In addition, they take great pride in their commitment to serve the communities in which they operate, by offering great tasting craft beers and experiences from their passionate bartenders. With all of these great attributes, Rock Bottom is sure to remain in business for many more years to come.
Who owns Rock Bottom Brewery?
Rock Bottom Brewery is a chain of brewpub restaurants founded in 1991. It is owned and operated by Craftworks Restaurants & Breweries, a large restaurant group which has over 200 restaurants operating under many different brands.
Craftworks Restaurants & Breweries is a family-owned business that has been around for over 40 years. Its facilities feature well-crafted beer, eclectic menus, unique entertainment experiences, and a welcoming atmosphere.
Rock Bottom Brewery locations offer some of their signature brews, including their popular ESB (Extra Special Bitter) and IPA (India Pale Ale). There are currently over 25 Rock Bottom Brewery restaurants across the USA in states including Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Ohio, Pennsylvania, Texas, and Washington.
How many locations does rock bottom have?
Rock Bottom currently has 48 locations across the United States and one in Denver, Colorado. Founded in 1991, Rock Bottom is a casual-dining restaurant and bar chain with a focus on beer brewed on-site.
They specialize in house-crafted beer, fresh-brewed coffee, hearty meals, artisan pizzas, great wines and cider, and an array of desserts. Rock Bottom locations are mostly found in larger urban areas but can also be found in suburban locations and airport concourses.
Popular locations include Chicago, Las Vegas, Phoenix, Denver, Pittsburgh, and Beaver Creek, CO. In addition to the locations listed, Rock Bottom also has over 100 restaurant partners that carry their beer throughout the country.
Who owns Old Chicago now?
Old Chicago Pizza & Taproom is currently owned by CraftWorks Restaurants & Breweries, Inc. CraftWorks is one of the largest craft beer restaurant operators in the United States, comprising over 200 restaurants, primarily Old Chicago Pizza & Taproom, along with CraftWorks-owned restaurants Gordon Biersch Brewery Restaurants, Rock Bottom Restaurants & Breweries, and ChopHouse & Brewery.
The company is headquartered in Broomfield, Colorado, and as of 2019, has over 20,000 employees.
What states have rock bottom?
Rock bottom is an informal phrase used to describe a point of absolute low. It is often used to refer to when a person feels they have hit their worst in life, and any further down is impossible. That being said, there are many places around the world that tend to symbolically represent the concept of rock bottom.
In the United States, these areas often vary in geographical location and can often be linked to socioeconomic factors.
Perhaps the most famous example of an area with a strong representation of rock bottom in the United States is Detroit, Michigan. Throughout the years, Detroit has become synonymous with poverty, crime and a general widespread feeling of struggle and despondency.
Many of the city’s residents live in some of the worst socioeconomic conditions, with the highest rates of unemployment and poverty in the country.
In the south, there are several states that are also closely linked to the idea of rock bottom, including parts of Alabama, Arkansas, Louisiana and Mississippi. Even aside from inner-city poverty, the rural poverty throughout these states can be staggering.
Countless individuals, families and communities in the US reside in areas in which access of necessary government services and educational resources is practically nonexistent.
In terms of coastal states, California, although generally seen as a place of wealth and opportunity, has sections of Los Angeles and San Francisco which have become so synonymous with rock bottom that they are seen in popular culture.
Overall, the United States houses many areas that can exist as a symbol for rock bottom. Poverty, crime, and hopelessness are rampant throughout many sections of the country, however with strong economic, social, and educational reform, many regions can have a chance of overcoming rock bottom and flourishing.
What is rock bottom price?
Rock bottom price is a term used to describe the lowest possible price of a particular product or service. It is the lowest amount of money a seller will accept for a given item. The rock bottom price is often determined by the market forces of supply and demand.
When there is an abundant supply and limited demand, prices tend to remain low, resulting in a rock bottom price. In contrast, when there is a limited supply and increasing demand, prices tend to rise higher than the rock bottom price.
Some people may try to negotiate a better price than the rock bottom price, but this is rarely successful. It is important to note that the rock bottom price does not necessarily reflect the actual cost of the product or service, as the cost of the item or service may have been impacted by external factors such as inflation or exchange rate fluctuations.
When did rock bottom Indianapolis close?
Rock Bottom Brewery in Indianapolis, Indiana closed its doors on May 6th, 2018, after nearly 20 years of operation. The Decision was made after Sales had declined over the years and was seen as necessary given the current business environment and market conditions.
The original brewpub opened its doors downtown in 1999 and was an important part of the growth and development of Indianapolis’ downtown area. The brewpub was known for its award winning beers and its reliance on locally sourced ingredients.
Upon closing, Rock Bottom Brewery donated all of its remaining ingredients and kegs to local charity organizations. The building in which Rock Bottom was located has already been acquired by new owners who plan to transform the space into a multi-level entertainment complex.
Is Rock Bottom owned by Old Chicago?
No, Rock Bottom is not owned by Old Chicago. Rock Bottom is a chain of brewpubs and is part of the CraftWorks Restaurants & Breweries family. Since 1991, Rock Bottom has been crafting its own beer recipes and bringing fresh brewed beer to its restaurants across the nation.
Craftworks’ other brands include Old Chicago, Gordon Biersch, and ChopHouse. While there is some overlap in the types of dining experiences provided by each brand, they are not owned by the same company.
Who is Gordon Biersch owned by?
Gordon Biersch is owned by the Craftworks Holdings & Brewery Restaurant Group. The Craftworks Holdings & Brewery Restaurant Group is a craft beer-focused, full-service restaurant group based in Broomfield, CO that operates Gordon Biersch locations, as well as several other restaurant concepts including Arooga’s, Rock Bottom, Old Chicago, ChopHouse & Brewery, Director’s Club Restaurants and HopCat.
Craftworks Holdings & Brewery Restaurant Group is a top craft beer-centric full-service restaurant company in the U. S. , with over 200 locations across 35 states. They are head-quartered in Broomfield, Colorado, and employ over 10,000 people.
The company sources fresh ingredients to make all of their dishes, and they are passionate about their craft beers.
Who bought Rock Bottom Nashville?
In October 2020, Rock Bottom Nashville, a popular restaurant and brewery, was purchased by Shank Management, LLC. Shank Management, LLC is a family owned and operated company with its headquarters in Michigan.
The owner and president of Shank Management is Kenneth C. Shank, who is a successful real estate developer. Shank Management purchased Rock Bottom Nashville from CraftWorks Restaurants and Breweries, which was previously the parent company of Rock Bottom Nashville.
Prior to the acquisition, Shank Management owned and operated two other Rock Bottom locations, in San Francisco, CA and Jacksonville, FL.
The purchase of Rock Bottom Nashville was part of Shank Management’s strategy to expand their hospitality business portfolio by acquiring more great restaurants and breweries. They are excited to join the Nashville hospitality market and believe Rock Bottom Nashville will provide a great experience for visitors and locals alike.
Is Texas Roadhouse and Logan’s Roadhouse owned by the same company?
No, Texas Roadhouse and Logan’s Roadhouse are not owned by the same company. Texas Roadhouse is an American chain restaurant based in Louisville, KY, that was founded in 1993. Its menu includes steaks, ribs, chicken, and seafood.
Logan’s Roadhouse is an American chain restaurant based in Nashville, TN, that was founded in 1991. Its menu includes salads, sandwiches, ribs, and seafood. Both restaurants are well-known for their steak dinners and large portions.
Texas Roadhouse is owned by Texas Roadhouse, Inc. , a publicly traded company. Logan’s Roadhouse is owned by Landry’s, Inc. , a privately-held company.
Who bought Logan’s Roadhouse?
In April 2020, the private-equity firm Food Management Partners acquired Logan’s Roadhouse, one of the longest established family-dining chains in the nation. At its peak, Logan’s Roadhouse had over 200 locations scattered across 25 states, with a focus on steaks, ribs and seafood dishes.
However, due to financial difficulties attributed to slumping sales, the chain entered bankruptcy in March 2016. The chain closed 41 locations in 2017 and the remaining locations were then purchased by Food Management Partners.
The deal included the restaurant chain’s 323 franchise locations, many of which are operated by franchisees. Financial terms for the sale were not disclosed.
Initially, Food Management Partners planned to shut down underperforming locations and modernize the chain with a renewed focus on steakhouse dining. While the plan was encouraging for former Logan’s Roadhouse fans, the pandemic has put a pause on plans for the future of the chain for the immediate future.
Nevertheless, with the resources of a private-equity firm and the decades of experience that Logan’s Roadhouse has to offer, fans of the restaurant chain are hopeful that it can rise again in 2021.
Did Old Chicago get bought out?
Yes, Old Chicago Pizza & Taproom did get bought out. The casual dining chain, which first opened its doors in 1976, was acquired by CraftWorks Restaurants & Breweries Inc. in April 2018. According to a press release at the time, CraftWork’s intention was to “evolve and expand” the Old Chicago brand.
This acquisition added the chain’s popular Old Chicago menu and atmosphere to CraftWork’s portfolio of casual restaurant and brewery brands, which includes Gordon Biersch, Rock Bottom, and ChopHouse & Brewery.
The hope was that the purchase of Old Chicago would bring additional corporate support and fuel innovation and growth. As of 2020, the chain has seen some changes, though the atmosphere and menu have remained largely the same.
What does SPB Hospitality own?
SPB Hospitality is a privately owned company with an expansive portfolio of hospitality-focused investments. They specialize in the acquisition, development, and management of premium hospitality properties.
SPB operates a diverse range of investments across the US, including hotels, timeshares, vacation ownership, resorts, and residential components. There are currently 45 active hospitality assets across 10 notable US states, including New York, Florida, and California.
They’re also involved in real estate development, real estate investment trust, and hospitality services through various subsidiaries.
Their holdings range from full-service and lifestyle hotels in urban to rural locales, timeshares and resorts, mixed-use and hospitality-focused developments, and other vacation ownership assets including fractional, destination club, and shared ownership properties.
In addition, SPB Hospitality also owns and operates a multi-family portfolio that includes executive apartment homes, student housing, and residential condominiums and townhouses. Through their subsidiaries and strategic partners, they also offer a full range of hospitality-focused services including asset management, construction management, real estate investments, and property management.
Did all Old Chicago locations close?
Yes, all of the Old Chicago restaurants closed in early 2020. The chain had been in decline for several years, and the COVID-19 pandemic was the final straw. Old Chicago was founded in 1976 in Boulder, Colorado, and at its peak had over 100 locations across the United States.
However, the chain had been struggling in recent years, and had closed several locations prior to the pandemic. The pandemic was the final straw, and the chain announced in early 2020 that all of its restaurants would be closing permanently.
This was a sad day for many Old Chicago fans, as the chain was a beloved staple of the casual dining scene for decades.
Does Old Chicago still exist?
Yes, Old Chicago is a chain of pizza restaurants which can be found in several states in the US. It was founded in 1976, and is still going strong more than 40 years later. Old Chicago currently has over 100 locations, which can be found in Colorado, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, South Dakota, and Wyoming.
The restaurant specializes in classic Italian dishes, such as pizza, pasta, salads, and sandwiches. Old Chicago also offers a Happy Hour, express lunch, and gluten-free options. Whether you’re grabbing a quick bite to eat, or are celebrating a special occasion, Old Chicago promises tasty food, great prices, and an enjoyable atmosphere.
Who is the CEO of Old Chicago?
The current CEO of Old Chicago is Bob McDermott. He has been the Chief Executive Officer and President of Old Chicago since August 2018. Prior to joining Old Chicago, he spent over 11 years at KFC, where he served as Chief Executive Officer, President and Chief Operating Officer.
Bob also held a variety of senior leadership positions at Taco Bell, including serving as President, USA and International. During his tenure, Operation Percentage Improvement (OPI) strategy grew the business by 8.
3% year-over-year while improving KFC’s operating margin by 10%. He was also part of the KFC Global Leadership Team and held responsibility for leading the system’s franchisees. Before joining Yum! Restaurants International, Bob was Senior Vice President at Outback Steakhouse.
Bob holds an MBA from Baruch College, an M. S. in industrial engineering from Rensselaer Polytechnic Institute, and a B. S. in industrial engineering from Philadelphia University.
