We had a great time. According to the suit, SRH mistakenly recorded that the full $900,000 came out of Lofgren’s account, and he was thus paid back the full $900,000. 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. He says he was unaware of the change because he was traveling. Bamboo Grille, Wailuku. This didn’t seem to concern the folks at Bamboo Sushi when they started to look for funding. The Bamboo House is a hidden gem on Harrison ave near [email protected] Rd exit. Take your bamboo mat and cover it tightly with some plastic wrap to stop the rice from sticking to the grooves of the mat. We start with fresh seafood that gets delivered to us daily including wild pacific salmon and wild blue fin tuna. They do have a luncheon special menu with very nice bento boxes and sushi combinations. 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. All rights reserved. Every night, our chefs also craft location-specific specials featuring local, rare and hyper-seasonal ingredients. Anticipating an Oregon shutdown, Lofgren says he started to secure funding and renegotiate leases, helping the company brace for the economic fallout. 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. Bamboo Hyannis serves a mix of authentic Chinese and Japanese cuisine all in a relaxing atmosphere. 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. Bamboo Sushi. 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. US seafood restaurant chain Rubio’s Restaurants files for bankruptcy, Restaurant losses called “catastrophic” as Darden’s sales plummet, COVID-19 forcing more US, UK seafood restaurant closures, Bumble Bee hoping to pay executive bonuses, over objections of creditors, DSAR Requests / Do Not Sell My Personal Info. [CDATA[ Bamboo Izakaya: 1409 N.E. The company continues to offer pick-up and delivery at several of its Bamboo Sushi locations in the Portland area. The world’s first sustainable sushi restaurant. Bambu is all about sharing. “SRH intends to continue to operate its restaurants on the limited basis required by the COVID-19 pandemic. Alberta St., Portland, 503-889-0336 We also offer a sushi bar that has a robust selection of fresh sushi options. 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 … “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. Park thanked the restaurant company’s suppliers and customers for their outreach and support. “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. Hello, My name is Yin Thong, owner of Bambu. We are family friendly and want you to feel welcome from the moment you walk through our door. 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. “In this environment, we simply are not able to generate sufficient revenue to meet our day-to-day and long-term obligations. 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 Bamboo Sushi founder seeks to change the way people think about seafood. Then-creative director Cory Schisler called Double Impact the “the hippie flower children within Bain Capital,” saying that the fund seemed genuinely interested in Bamboo Sushi and Quickfish’s mission of creating scalable, “ocean-to-table” seafood chains. “We recognize that Bamboo Sushi is an institution in Portland and we take that responsibility seriously. Sustainable Restaurant Holdings is the company behind Bamboo Sushi. You may unsubscribe from our mailing list at any time. 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. They helped with ordering and explaining menu dishes. 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. “The fact remains that following a routine audit, the SRH Board determined that actions by Mr. Lofgren constituted cause for his termination as Chief Executive Officer.” Bain Capital and Sustainable Restaurant Holdings chose not to respond to specific claims made within the lawsuit. 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. 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. Bamboo: buffet was good - See 118 traveler reviews, 51 candid photos, and great deals for Hyannis, MA, at Tripadvisor. In July, the firm acquired Sustainable Restaurant Group, which owns Bamboo Sushi and declared bankruptcy in May. 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. Instead, the suit claims Cozzone rejected Lofgren’s plans, allegedly accelerating Lofgren’s planned departure as CEO and “(moving) to the Bain Capital playbook.”, The lawsuit claims that Bain, through an emergency board meeting, terminated him and demanded another chunk of shares — giving Bain majority ownership. 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. COVID-19 has required the company to limit restaurant operations and has “significantly affected its ability to generate revenue,” Sustainable Restaurant Holdings said. Welcome to my restaurant! © 2020 Diversified Communications. “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. Not sure what any negative service reviews were about as we were greeted quickly and with a smile. 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. 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. Then, we can get the sushi rolling. : Quickfish. For the avocado sushi, take a nori sheet and put in the rice on the sheet until you fill it midway. 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. Our restaurants showcase a full cocktail program as well as a exciting saké selection. In the Portland area alone, there are five Bamboo Sushi locations, plus two Quickfish locations. “We try to be a really great restaurant, using simple, fresh ingredients and items off the grill,” said Rand, who owns the restaurant with his father and wife, Danielle. '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. You have inspired us to continue fighting for this brand,” he said. Based in Portland, Oregon with locations primarily in the Northwest, Bamboo Sushi owns and operates the world’s first certified sustainable sushi restaurants. 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 […] “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. Bain Capital Double Impact Fund owns about 35% of the company’s shares, while founder Kristofor Lofgren owns about 42%, according the bankruptcy petition filed in Delaware. The company was pursued by Double Impact, the socially conscious corner of Bain Capital that seeks out sustainable businesses like By Chloe. SRH has also received a commitment for up to USD 1.9 million (EUR 1.8 million) in debtor-in-possession financing led by the Bain Capital Double Impact fund. [CDATA[ 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. Want seafood news sent directly to your inbox? We look forward to emerging from this process as a stronger company and continuing our business relationships for many years to come.”. // // . Kendo (剣道, Kendō, lit. 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. We wanted to do something different in the area, but still bring the same high quality ingredients without the high prices. 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. SRH, which operates Bamboo Sushi and QuickFish, announced its “plan to restructure the business and find new capital in an effort to proactively address the impact of the COVID-19 pandemic,” the restaurant group said in a press release. Bamboo Sushi is currently stuck in the middle of a legal battle between its former CEO, Kristofor Lofgren, and private investment firm Bain Capital. Environmentalist and UC Berkeley grad Kristofor Lofgren moved to Portland, Oregon, in 2006 to go to law school. The restaurant is … Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500. Visit website “ Bamboo Sushi is a restaurant of change; through our food, our service and our spirit we are offering a dining experience that seeks to inspire. Sushi rolls are 30% off during evening happy hour. The lawsuit claims Bain Capital postured as a socially conscious investment firm before instituting a “hostile takeover” of Sustainable Restaurant … 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. 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. Lofgren planned to use the money to expand Bamboo Sushi and Quickfish, hoping to open locations in San Francisco and Seattle. Lofgren wants the fund to pay SRH, the holding company he used to run, at least $5 million, plus an additional $4.7 million for himself. 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. Yiyang Hexiang Bamboo Co., Ltd: Our bamboo chopsticks are suitable for various Asian restaurants or supermarkets. 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. The dish is today known as narezushi, and was introduced to Japan around the Yayoi period. Each Bamboo Sushi location serves a menu of signature sushi rolls, traditional nigiri, and Japanese-inspired plates to share. Today, he owns Bamboo Sushi, a cozy, stylish eatery that's been rated as the most sustainable seafood restaurant in the U.S. , plus two Quickfish locations Portland and we take that responsibility seriously Capital seeks! 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