Fast food salad chain files Chapter 11 bankruptcy
The chain joins BurgerFi and multiple Burger King and Popeye's franchise owners who have filed for bankruptcy over the past 12 months.
Daniel Kline Jul 20, 2024 9:10 AM EDT
What people say and what they do can sometimes be different.
Some people, for example, might say they support efforts to protect the environment while drinking from a styrofoam cup using a plastic straw. In many cases, the version of themselves people talk about is the one that makes the most ethical choices.
The real version of us, however, will go to the gym tomorrow and might opt to make easier choices most of the time. This is the reason many political polls prove to be wrong.
People say they plan to vote for the candidate willing to raise their taxes to fund good causes and needed services. At the end of the day, however, in the privacy of the voting booth, many people vote for their own self-interest.
When it comes to eating choices, people are often the same way. That's why after the public pushed McDonald's to offer the McPlant, a plant-based burger, in the United States, few people actually bought it.
The idea of healthier fast food options seems like something people want. In reality, while some people will opt for the better-for-you choice, most people will go for burgers, fries, tacos, and other less-than-healthy choices.
It's a clear situation where people say they want one thing and clearly actually want another. That's bad news for a fast-food-style chain built around healthier options.
It has been a bleak year for fast-food chains with a number of them filing for bankruptcy protection.
Image source: Vlad Teodor/Shutterstock
You don't win friends with salad
Tender Greens calls itself a "fine casual" restaurant, but it's a healthy food location built around fast service. It's fast food, just not in the traditional sense where the term has generally been reserved for less healthy fare.
The chain sits in the space where companies like Cava and First Watch operate, where it's fast, but also elevated. Tender Greens has been around since 2006 and in 2015 it received an investment from celebrity restauranteur Danny Meyer.
"Every now and then, I'll visit a restaurant and love the idea—the food, the people, the culture—so much that I wish I'd thought of it myself. That's exactly what happened with Tender Greens," Meyer said at the time.
The company uses the tagline "Good food for everyone."
"We start with the best ingredients, cook from the heart, and let our food do the talking. No compromises, no matter what. Sustainability is at the core of all the choices we make, from our food to our planet to the future of farming. It’s in our DNA. After all, we’re chefs," the company shared on its website.
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One Table Restaurant Brands, the parent company of Tender Greens, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware in Delaware. The company reported debts in the range of $10 million to $50 million along with assets under $50,000.
Tender Greens shared that it has between 1 and 50 creditors and also said that funds would be available for unsecured creditors.
A request for comment submitted on the company's website was not immediately answered.
Tender Greens' biggest creditors include ChixEgg LLC at $5.1 million and Sentry Insurance which it owes $1.1 million. Many of the listed creditors include the company's food vendors and some of its landlords.
The chain has 24 locations, all in California. It closed its New York locations in 2021. Sweet Greens would not be large enough to be impacted by California's new restaurant minimum wage law, which kicks in at 60 locations in the state.
Tender Greens has not shared a bankruptcy filing plan.
BY DANIEL KLINE
Daniel Kline serves as Executive Editor for Come Cruise With Me and an Editor at Large for The Arena Group.
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