Full Answer
Who owns Punch Bowl Social?
Robert Thompson is hungry for eatertainment innovation. The founder and former CEO of Punch Bowl Social launched his first eatertainment business, Buffalo Billiards & Havana Diner Lounge, 25 years ago in Nashville. He was just 26 years old. Ever since, he's worked to modernize and elevate what these concepts can be.
Who owns Punch Bowl Social in Milwaukee?
CrowdOut CapitalTexas-based CrowdOut Capital purchased the chain out of bankruptcy in 2020 and has reopened all 15 locations but the one in the Deer District.
Why did Punch Bowl Social Detroit close?
Opened in 2014, the 24,000-square-foot bar, arcade, restaurant, bowling alley, and karaoke space on Broadway Street has been closed since mid-March after Gov. Gretchen Whitmer ordered all bars and restaurants to discontinue dine-in service.
When did Punch Bowl Social Open in San Diego?
Patrick Williams, beverage director for Punch Bowl Social chain, at the 360-degree bar inside Punch Bowl Social San Diego, which opens June 9 in East Village.
What replaced Punch Bowl Social Detroit?
Enjoy pre-kickoff fun in a weather-controlled environment this football season with a new attraction that's located blocks from Ford Field. Bullseye Event Group is selling tickets to "The Lions VIP Tailgate," a spacious hangout where Punch Bowl Social bar, restaurant and bowling alley was up until the pandemic.
Where can I tailgate for a Lions game?
Pride Plaza is the official tailgate party for the Detroit Lions. It's located on Brush Street near Ford Field. There'll be live entertainment, food, drinks, and more.
Is there tailgating at the Lions game?
Notes: Detroit Lions tailgating returns to Eastern Market for first time in 3 years. Eastern Market's tailgating area will be up and running on Detroit Lions gamedays for the first time since 2019.
What did Punch Bowl Social use?
Punch Bowl Social occupies the former Toby Keith's I Love This Bar & Grill, which vacated the space in September 2015.
What is Punch Bowl Social?
Punch Bowl Social was once a rising chain in the eatertainment sector. First landing in 2012, the innovative concept combines games like shuffleboard, ping-pong, bowling, pinball, and Skee-Ball with a menu that features pan-fried pork chops and chicken and waffles. In the following years, Punch Bowl expanded into major markets like Chicago, Denver, ...
Who was the CEO of Punch Bowl?
When Haywood became CEO, he started preparing for the eventuality of a change in control, Gavin notes. Punch Bowl engaged investment bank P.J. Solomon to run a sales process, but it ultimately did not yield any acceptable offers.
What was the amount of loan from Sortis for Punch Bowl?
The court approved Punch Bowl’s sale to CrowdOut, but one item that remained unresolved was how the $261,500 loan from Sortis would be treated. The issue was significant because if Sortis was successful in asserting its lien, it’s possible that some proceeds that were to be allocated to unsecured creditors would be given to Sortis instead.
Why did Punch Bowl file for bankruptcy?
Punch Bowl filed bankruptcy on December 21 to stop the foreclosure sale. CrowdOut was surprised by the filing, yet also wanted to fund the bankruptcy. That meant Punch Bowl faced two options: a certain amount of financing from Sortis in conjunction with a restructuring support agreement that bound Punch Bowl to Sortis’ view of how the case should go, or an unrestricted credit line from CrowdOut to run the bankruptcy case on an interim period while everyone figured out what to do.
When will Punch Bowl reopen?
Punch Bowl is currently operating two stores in Atlanta and Austin, and will reopen 12 more throughout 2021.
Did Punch Bowl borrow from Crowdout?
In the first few days of the case, Punch Bowl opted to borrow from CrowdOut on an interim basis, but continue to negotiate among the parties for the best offer. In the next week or so, Punch Bowl held conversations with Sortis and CrowdOut over the terms of what a debtor-in-possession financing facility would look like.
