A POPULAR bakery chain has committed to remodeling efforts to spark some growth post-bankruptcy.
Significant investment is being made into the endeavor and customers could soon see the result.
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Corner Bakery Cafe has been around since 1991 after humble beginnings in Chicago, Illinois.
It focused on bread and fresh-baked desserts before expanding and offering breakfast, lunch, dinner, and catering.
Years later, it fully-developed into a fast-casual cafe company.
However, in February 2023 it filed for Chapter 11 bankruptcy alongside subsidiaries CBC Restaurant Corp and CBC Cardco Inc.
Read More on Bankruptcies
It later emerged with new owner SCCP Restaurant Investors, and the pair immediately got to work to improve sales performance.
By the end of the same year, average unit volumes were boosted by $200,000, per Restaurant Dive.
UPGRADES UNDERWAY
Since last year, Corner Bakery Cafe has also invested about $6 million in improvements and seven full remodels, with an additional $500,000 planned for in the coming months.
Six of the renovations took place in California, and one was in Pennsylvania.
They included updates to the interior and exterior of the cafes, along with new flooring, decor, seating, paint, beverage counters, awnings, and patio furniture.
The updates also include the implementation of self-order kiosks.
Corner Bakery Cafe says it’s all part of “furthering the company’s investment in delivering better guest experience through technology.”
It currently has around 100 locations in California and Pennsylvania along with Colorado, the District of Columbia, Georgia, Illinois, Kansas, Kentucky, Maryland, Nevada, New Mexico, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.
The cafe chain plans to upgrade all locations in the aforementioned states by 2027.
Company culture and new menu options are also a focus.
How does bankruptcy work?
Bankruptcy is a specific legal process that helps companies eliminate debt they can’t repay.
The process allows businesses to start fresh and gain access to new credit.
Supervised by federal courts, bankruptcies allow a company to sell off its assets more easily to pay off creditors, according to Investopedia.
Chapter 11, a common process for companies, is used to restructure a business with the goal of remaining open – even if it means selling off most of the company’s properties.
Chapter 7, on the other hand, sells all of a company’s assets, putting it out of business.
Chapter 15, alternatively, allows for collaboration between American and foreign courts to conduct bankruptcy proceedings with “parties of interest involving more than one country,” per the United States Courts.
A Green Chili Chicken Panini was recently added, for example.
FRESH ADDITIONS
New corporate-owned Corner Bakery Cafes are also set to arrive, with one in Irvine, California, set for a May grand opening.
Last year, two new Corner Bakery Cafes were opened in Chicago and Washington DC.
Franchised locations are still growing too for the brand.
Last month, franchise owner Bakery Ventures opened a Corner Bakery Cafe in El Paso, Texas.
While Corner Bakery Cafe makes its way well out of bankruptcy woes, several fast-casual restaurant chains have submitted Chapter 11 filings this year.
On the Border Mexican Grill & Cantina recently did and confirmed the closure of 70 restaurants.
TGI Fridays also went bankrupt and confirmed the axing of about 100 locations nationwide.
