Roscoes Files its Exit Plan

Roscoes Files its Exit Plan from Chapter 11

Under Chapter 11 management by The Next Idea, Restaurant Consulting and Management group in partnership with Restaurant Finance Group, Triple Enterprises;  reporting into court-appointed Trustee, Roscoe’s parent company, East Coast Foods filed a repayment plan that returns the bankrupt business to its owner and repays all creditors in full.

This is a very unusual and favourable outcome for a Chapter 11 business and is a direct result of the operational improvements and financial controls installed by The Next Idea and Triple Enterprise teams.

The result was an ability to show the long-term profitability of the business with a higher than market average cash flow, and thus an ability to repay the entire debt over a reasonable timeframe.

We are delighted to see such a positive result for Roscoe’s and wish them well as they emerge from bankruptcy.

This case demonstrates that it is always possible to turn around a troubled business and emerge without negatively impacting jobs, suppliers or customers.

Roscoes House Of Chicken and Waffles 27 Million Debt

The Next Idea Restaurant and Food Forecast for 2018

The Next Idea (TNI) anticipates 2018 to be a very exciting year as the ever-changing restaurant and food landscape adjusts itself towards an uncertain yet deeply curious and discerning consumer.

Nelson Mandela once said, “There is nothing like returning to a place that remains unchanged, to find the ways in which you yourself have altered.” This fundamentally represents the modern consumer’s mindset when it comes to food and eating out. The consumer is a dichotomy between old and new. On one hand, consumers embrace the latest mobile phone and software technology as a need, like drinking water. On the other hand, consumers now aspire to eat the same food as their ancestors!

Read More