Bamboo Sushi

Client Profile

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. 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. The Company operates with an underlying mission to change the way consumers eat – including transparency in food sourcing, reducing their carbon footprint, and enriching local communities.

Situation

Since its founding in 2008, Bamboo Sushi experienced considerable success and growth with attractive unit-level economics. The Company began to implement revenue enhancement and cost savings initiatives, but the COVID-19 outbreak led to the temporary shutdown of dine-in services at all locations. The Company temporarily shifted to a take-out only model at a few locations and significantly reduced corporate overhead and operational costs, but the economic impact of the pandemic ravaged the Company’s revenue, profitability, and liquidity.

Solution

SSG was retained in May 2020 with a short timeline to find a going concern buyer and avoid a potential liquidation. SSG’s accelerated marketing process attracted significant interest despite several obstacles including the pandemic lockdown and the Company’s lack of liquidity. Sortis, in conjunction with its Sortis Rescue Fund, successfully negotiated a Stalking Horse Agreement and acquired the Company through a Subchapter V Plan sale. SSG’s special situations expertise and significant experience in the food and beverage industry enabled Bamboo Sushi to complete a challenging and expedited transaction that maximized value for all stakeholders.