Roti Files for Chapter 11 Bankruptcy to Reorganize and Seek New Investors

Photo Credit: Roti

CHICAGO, August 23, 2024 (VSNewsNetwork.com) - Roti, a restaurant group known for its Mediterranean-inspired menu, has filed for Chapter 11 bankruptcy protection as part of its ongoing financial restructuring efforts. The company aims to secure new investors or purchasers on an accelerated timeline while reorganizing its finances. Despite the bankruptcy filing, Roti intends to continue operations at all its locations, which include restaurants in Chicago, Minneapolis, and the Washington, D.C. metro areas.

Roti was founded in Chicago in 2006, pioneering a new category by bringing the rich, diverse flavors of the eastern Mediterranean to the fast-casual dining scene. “Our vision to create happier, healthier, and more flavorful lives comes to life by providing our guests with exceptional food experiences – even in the face of current headwinds,” said Justin Seamonds, CEO of Roti. Seamonds also stated that “after careful consideration, filing for bankruptcy protection was the best way to address our challenges - including financial performance, higher costs, mixed location performance and tough market conditions – while staying open and focused on delivering Food For A Full Life to each and every guest.”

Throughout the restructuring process, Roti plans to work closely with landlords and suppliers to keep its locations open and its employees engaged. The company acknowledges the significant impact of the COVID-19 pandemic, particularly on its downtown locations, which make up 50% of its restaurants. However, Seamonds expressed confidence in the company's ability to navigate the current restaurant climate and continue serving its customers. “We expect our loyal, flavor-seeking guests to continue to enjoy us while we tackle this necessary next step in our journey,” Seamonds added.

For more information, visit www.roti.com.

Source: Roti via Newswire