The concept of a single owner-operator running a restaurant on his or her own seldom meets reality. Instead, owners, partners, managers, and investors work together to help a restaurant function smoothly and serve its patrons. For this arrangement to work, the restaurant should usually take the corporate form of a Limited Liability Corporation (LLC). Not…
Foreclosure is never a pleasant experience for any business. If you own a restaurant, it means not only that your property is in danger, but your ability to dig back out of debt and turn a profit can be in trouble. Fortunately, there are foreclosure alternatives worth considering. If you are facing foreclosure, restaurant receivership is an option that can…
There is an old adage in the food service business says many a restaurant turnaround consultant that the way to tell “if a fish is going bad is if it stinks at the head first!” Using the analogy that your failing restaurant is like a bad fish, the problems usually start at the head of…
Face it, the cost of monthly rent is one of the biggest expenses next to labor costs to be reduced for both a tenant and a restaurant turnaround consultant charged with developing a strategy to save a food service operation. One of the key areas in order to save a failing restaurant business is to…
When there are disputes between a managing member or other members of a LLC (Limited Liability Corporation), the appointment of a restaurant receiver is one solution. Unlike hotel receiverships, where often this action is more common and brought on by the senior lender prior to foreclosure and in order to preserve the assets and the…
The viability of using a restaurant receiver to resolve a dispute depends on many factors, most of which have not been studied at length. Those who lose the battle are rarely willing to contribute to the academic study. And, those who are able to do not really think much of academic studies. A restaurant, with any…
The Bay Area Chapter of the California Receivers Forum held its March 24, 2010 program on trends in receivership that included a lender, court receiver and attorney on the speakers panel. It was very well attended at The City Club in the Financial District of San Francisco. The event which was entitled “Current Trends in…
Watching and adjusting manpower levels is probably the most important M that a restaurant turnaround consultant will evaluate. It can adversely affect your existing money and marketing significantly. However, many independent restaurant operators and those who lack prior restaurant management training will often overlook this key cost within a food service operation. DiningRoom Table SettingFor…
Restaurants and bars that are in default on their bank loans, not paying their investors or have business partner disputes, often require a neutral party to be brought in to preserve the assets and improve the income, such as court appointed receivers or a restaurant turnaround consultant. Like hotel receivership services and hotel turnaround services,…
The Bay Area Chapter of the California Receivers Forum is holding a program on current trends in receivership with a distinguished panel that includes a Lender, Court Receiver and Attorney. The event will be held in San Francisco. Here are the details of the meeting and program content: Receiverships Current Trends in Receiverships What to…