Anticipating an Oregon shutdown, Lofgren says he started to secure funding and renegotiate leases, helping the company brace for the economic fallout. Bamboo Sushi is currently stuck in the middle of a legal battle between its former CEO, Kristofor Lofgren, and private investment firm Bain Capital. “We recognize that Bamboo Sushi is an institution in Portland and we take that responsibility seriously. We encourage you to see and taste a variety of dishes and pass them around the table. 20-25,000Square feetNationalMarketPuttshack is part of a ground-breaking social entertainment brand founded by Adam Breeden, founder of Acebounce and co-founder of Flight Club and Steve and Dave Jolliffe, founders of Top […] Visit website “ Bamboo Sushi is a restaurant of change; through our food, our service and our spirit we are offering a dining experience that seeks to inspire. “Bain further claimed that, unlike most private equity funds, its Double Impact Fund invested in long term growth rather than seeking a quick expansion and payoff,” the complaint reads. The history of 寿司(Sushi) began with paddy fields in Southeast Asia, where fish was fermented with rice vinegar, salt and rice, after which the rice was discarded. For the avocado sushi, take a nori sheet and put in the rice on the sheet until you fill it midway. Located in Hyannis, MA. Bamboo Hyannis serves a mix of authentic Chinese and Japanese cuisine all in a relaxing atmosphere. Then-creative director Cory Schisler called Double Impact the “the hippie flower children within Bain Capital,” saying that the fund seemed genuinely interested in Bamboo Sushi and Quickfish’s mission of creating scalable, “ocean-to-table” seafood chains. Based in Portland, Oregon with locations primarily in the Northwest, Bamboo Sushi owns and operates the world’s first certified sustainable sushi restaurants. The Bamboo Grill serves up the best of Asian food in a very calm and peaceful atmosphere. Bamboo Sushi is only open for takeout now as it eases into opening, though diners can eat their to-go food at the restaurant's outdoor patio. We also offer a sushi bar that has a robust selection of fresh sushi options. Hawaiian Food, American and Japanese Food. Can be customized according to your needs, we also have bamboo stick bamboo steamer etc, welcome to contact us. SRH, which operates Bamboo Sushi and QuickFish, announced its “plan to restructure the business and find new capital in an effort to proactively address the impact of the COVID-19 pandemic,” the restaurant group said in a press release. SRH reported about USD 18 million (EUR 16.6 million) in revenue in 2019 and listed between USD 1 million and USD 10 million (EUR 924,500 and EUR 9.2 million) worth of liabilities in its bankruptcy filing. Abhi Sainju, a native of Nepal who has operated Everest Sushi catering, is the executive chef. He says he was unaware of the change because he was traveling. I grew up in a small village in Vietnam with the rich tastes and flavors from my ancestor's cooking. • Lawsuit against Bain Capital [Official]• Ousted as CEO, Bamboo Sushi founder sues Bain Capital fund over alleged ‘hostile takeover’ [PBJ]• Bamboo Sushi founder raises the stakes in legal fight against investor Bain Capital [PBJ]• Bain Capital Has Invested in Bamboo Sushi — Here’s What That Really Means [EPDX], Lawsuit Claims One of the World’s Most Notorious Private Equity Firms Is Seizing Control of Local Chain Bamboo Sushi, Sign up for the “Our goal is to emerge from this process as quickly as possible with a strengthened balance sheet and the necessary capital to rehire our furloughed employees and resume operations at our restaurants whenever it is safe to do so,” Park added. The lawsuit claims that Bain had previously decided the accounting error was simply a mistake, as opposed to conscious fraud: While Lofgren was traveling in 2017, SRH needed about $900,000 in short-term cash, so Lofgren says he asked a banker to take $900,000 out of his account and send it to SRH. Then, we can get the sushi rolling. In July, the firm acquired Sustainable Restaurant Group, which owns Bamboo Sushi and declared bankruptcy in May. Bain Capital Double Impact Fund owns roughly 35 percent of SRH, with former CEO and founder Kristofor Lofgren owns around 42 percent, according the bankruptcy petition filed in Delaware. Portland's restaurant scene took another hit this week as Sustainable Restaurant Holdings, the holding company for restaurants Bamboo Sushi and Quickfish, filed for Chapter 11 bankruptcy protection. Hello, My name is Yin Thong, owner of Bambu. “SRH intends to continue to operate its restaurants on the limited basis required by the COVID-19 pandemic. Lofgren wants the fund to pay SRH, the holding company he used to run, at least $5 million, plus an additional $4.7 million for himself. From a terrace at the Japanese Garden framed by bonsai and maples, on the evening of August 23, the Portland elite gazed down on the city they run. Bain Capital, the private equity firm co-founded by former presidential hopeful Mitt Romney, hasn’t historically had a good reputation nationally: Once called “the worst of capitalism” by Rolling Stone and “bad for America” by Forbes, Bain was known for buying up profitable companies and stripping them for parts, reorganizing them to make a larger profit. According to the lawsuit, fund manager Cozzone then insisted that the company open “five to six new locations within a short period of time.”, Then, coronavirus started to spread across the country, shutting down restaurants in cities around the world. The dish is today known as narezushi, and was introduced to Japan around the Yayoi period. All rights reserved. You may unsubscribe from our mailing list at any time. We start with fresh seafood that gets delivered to us daily including wild pacific salmon and wild blue fin tuna. The world’s first sustainable sushi restaurant. US seafood restaurant chain Rubio’s Restaurants files for bankruptcy, Restaurant losses called “catastrophic” as Darden’s sales plummet, COVID-19 forcing more US, UK seafood restaurant closures, Bumble Bee hoping to pay executive bonuses, over objections of creditors, DSAR Requests / Do Not Sell My Personal Info. Sushi Tozai is the location where East (to) meets West (zai) as we bring to you the food and flavors of Japan in a classic sushi house decor. Weighing in at a mere 55 seats, Sushi Aoi packs abundant style into its small space. The company continues to offer pick-up and delivery at several of its Bamboo Sushi locations in the Portland area. 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. Not sure what any negative service reviews were about as we were greeted quickly and with a smile. : Quickfish. Out east, two sushi restaurants are also finding fresh new clientele — Kissaki in Water Mill, where a sushi robot molds rice, and Bamboo in Southampton, where there’s local fluke sushi … “Mr. Bambu is all about sharing. The lawsuit says that, by April 2019, Lofgren felt obligated to agree to give a portion of his ownership shares to Bain to secure the capital to expand. Environmentalist and UC Berkeley grad Kristofor Lofgren moved to Portland, Oregon, in 2006 to go to law school. Bain has thus far invested USD 15 million (EUR 13.9 million) into SRH and has been trying to sell the business since March, according to Bloomberg. We are family friendly and want you to feel welcome from the moment you walk through our door. Want seafood news sent directly to your inbox? // ]]>// . The lawsuit claims Bain Capital postured as a socially conscious investment firm before instituting a “hostile takeover” of Sustainable Restaurant Holdings, which owns Bamboo Sushi. SRH, which operates Bamboo Sushi and QuickFish, announced its “plan to restructure the business and find new capital in an effort to proactively address the impact of the COVID-19 pandemic,” the restaurant group said in a press release. In the Portland area alone, there are five Bamboo Sushi locations, plus two Quickfish locations. “We try to be a really great restaurant, using simple, fresh ingredients and items off the grill,” said Rand, who owns the restaurant with his father and wife, Danielle. Back in 2018, SRH agreed to accept $15 million from Bain Capital “in exchange for a 23% ownership interest in the company,” the lawsuit reads. 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