Vegan Restaurant Chain By Chloe to Be Bought Out of Bankruptcy, Must Continue Under Different Name
BC Hospitality Group, parent company of vegan fast-casual chain by Chloe, has agreed to sell the chain out of bankruptcy to a group of investors including QOOT International, Simple Capital Management LLC, Kitchen Fund, Lion Capital LLC, and Bain Capital Double Impact Fund. The group has agreed to pay $333,000 as well as the assumption of its debts, though it has been ruled that moving forward it must operate under a different name. By Chloe launched in 2015 and expanded to 14 locations around the US as well as becoming recently established in London and Canada. The fashionable restaurants saw exponential success, securing $31 million in 2019 for major expansion with plans to open 50 new locations over four years, which would have more …
