The dish is today known as narezushi, and was introduced to Japan around the Yayoi period. Bain Capital Double Impact Fund owns about 35% of the company’s shares, while founder Kristofor Lofgren owns about 42%, according the bankruptcy petition filed in Delaware. “We recognize that Bamboo Sushi is an institution in Portland and we take that responsibility seriously. 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. “We served about 500,000 meals in Portland last year and are working tirelessly to serve Green Machines and other signature dishes as we move through this unexpected crisis. At Bamboo Hyannis, we only use the freshest ingredients and authentic Chinese and Japanese spices to give you an authentic taste experience. 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. The company remains committed to its goal of rehiring furloughed workers and resuming operations at its restaurants as soon as the health risks related to COVID-19 subside and government restrictions are lifted,” it said. But Bamboo Sushi isn’t just widespread; the company has aimed to be a leader in the environmentally friendly seafood movement and claims to be the world’s first certified sustainable sushi restaurant. We wanted to do something different in the area, but still bring the same high quality ingredients without the high prices. “Mr. : Quickfish. Bamboo Sushi founder seeks to change the way people think about seafood. I grew up in a small village in Vietnam with the rich tastes and flavors from my ancestor's cooking. 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. Bamboo: buffet was good - See 118 traveler reviews, 51 candid photos, and great deals for Hyannis, MA, at Tripadvisor. A casual experience bringing sustainable seafood to everyone. We start with fresh seafood that gets delivered to us daily including wild pacific salmon and wild blue fin tuna. As a result, during the last several weeks, we diligently explored all available options to address our financial situation and preserve the long-term viability of SRH.”. 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. A great meal of sushi rolls and chicken teriyaki. Bamboo Sushi. “In this environment, we simply are not able to generate sufficient revenue to meet our day-to-day and long-term obligations. Sustainable Restaurant Holdings is the company behind Bamboo Sushi. Today, he owns Bamboo Sushi, a cozy, stylish eatery that's been rated as the most sustainable seafood restaurant in the U.S. “Subject to approval from the Court, the DIP financing, combined with the company’s available cash, will provide sufficient liquidity for SRH to continue to compensate and provide benefits to its current employees and meet its post-chapter 11 filing obligations to vendors and other business partners,” SRH said. The restaurant is discussing when the dining room will open, said Judiaann Woo, director of communications and brand strategy for Sustainable Restaurant Group, which owns Bamboo Sushi. 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. You don’t have to be Jiro Ono, the sushi master in the 2011 documentary “Jiro Dreams of Sushi,” to turn out a maki roll with your own two hands. 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. We also offer a sushi bar that has a robust selection of fresh sushi options. 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. As first reported by the Portland Business Journal, Lofgren is suing Bain Capital’s Double Impact Fund and fund manager Christopher Cozzone for defamation and breach of fiduciary duty, among other things. The world’s first sustainable sushi restaurant. 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. Bamboo Grille, Wailuku. We look forward to emerging from this process as a stronger company and continuing our business relationships for many years to come.”. Every night, our chefs also craft location-specific specials featuring local, rare and hyper-seasonal ingredients. Lofgren’s amended complaint is yet another attempt to manipulate and pressure Sustainable Restaurant Holdings (SRH) into paying him money he is not owed,” a statement from Sustainable Restaurant Holdings reads. 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. Alberta St., Portland, 503-889-0336 For the avocado sushi, take a nori sheet and put in the rice on the sheet until you fill it midway. 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. • 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 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. We encourage you to see and taste a variety of dishes and pass them around the table. Then add in the avocado and roll the nori. stLight.options({publisher: "d264abd5-77a9-4dfd-bee5-44f5369b1275", doNotHash: false, doNotCopy: false, hashAddressBar: false}); 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 … You have a choice of either classic American Chinese selections or classic Japanese including Sushi and Sashimi. Environmentalist and UC Berkeley grad Kristofor Lofgren moved to Portland, Oregon, in 2006 to go to law school. [CDATA[ “We are facing the same challenges as many other consumer-focused businesses, especially those in the restaurant industry,” SRH President and Interim CEO Matthew Park said. Located in Hyannis, MA. Kendo (剣道, Kendō, lit. On its website, customers can find an interactive graph of the company’s carbon footprint, breaking down the individual carbon footprints of each fish the company serves. The company continues to offer pick-up and delivery at several of its Bamboo Sushi locations in the Portland area. Bamboo Sushi is currently stuck in the middle of a legal battle between its former CEO, Kristofor Lofgren, and private investment firm Bain Capital. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500. Portland, Oregon, U.S.A.-based Sustainable Restaurant Holdings (SRH), has filed for chapter 11 bankruptcy. Lofgren was removed from his position as CEO in March 2020 and is suing the company for USD 4.7 million (EUR 4.3 million), alleging Bain of attempting to “loot the corporation,” according to Bloomberg Law. The company was pursued by Double Impact, the socially conscious corner of Bain Capital that seeks out sustainable businesses like By Chloe. In a lawsuit against Bain Capital’s Double Impact Fund, former CEO Kristofor Lofgren says the company instituted a “hostile takeover” of his company. 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. Not sure what any negative service reviews were about as we were greeted quickly and with a smile. 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. 'sword way', 'sword path' or 'way of the sword') is a modern Japanese martial art, descended from swordsmanship (), that uses bamboo swords as well as protective armor ().Today, it is widely practiced within Japan and has spread to many other nations across the world. Sortis also helped bring Rudy's Barbershop out of bankruptcy this year. Hawaiian Food, American and Japanese Food. Instead, the suit claims Cozzone rejected Lofgren’s plans, allegedly accelerating Lofgren’s planned departure as CEO and “(moving) to the Bain Capital playbook.”, The lawsuit claims that Bain, through an emergency board meeting, terminated him and demanded another chunk of shares — giving Bain majority ownership. The second location is opening Downtown early next year, on the corner of Southwest 12th Avenue and Stark Street. The Bamboo Grill serves up the best of Asian food in a very calm and peaceful atmosphere. The suit also claims Cozzone undervalued the company for the share purchasing, claiming it was worth only $15 million as opposed to $40 million. var switchTo5x=true; Part of the Sustainable Restaurant Group, which also owns sustainable seafood-focused Bamboo Sushi, the new izakaya is the first of two in the works so far. 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. 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. Lofgren also claims Bain went back on its word by withholding funds unless the firm received additional shares in the company, pulling directly from the owners’ interests. Park thanked the restaurant company’s suppliers and customers for their outreach and support. Bamboo Sushi has received broad acclaim throughout the restaurant industry for its focus on sustainability and deep commitment to environmental and social change through its food. “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. According to the suit, SRH mistakenly recorded that the full $900,000 came out of Lofgren’s account, and he was thus paid back the full $900,000. Yiyang Hexiang Bamboo Co., Ltd: Our bamboo chopsticks are suitable for various Asian restaurants or supermarkets. newsletter, Shoestring Budgets, Side Gigs, and a Ticking Clock: How Portland’s Unemployed Restaurant Workers Are Struggling to Survive, Extended unemployment benefits are set to expire this month, and Congress hasn’t approved another stimulus package, Where to Find Food and Drinks in the West Hills, Burgers, Bento, Pho, and more between downtown and Beaverton, Indonesian Restaurant Gado Gado was Burglarized Over the Weekend, Plus, Rimsky-Korsakoffee House hits its fundraising goal, and ORLA launches a legal fund for restaurants, suing Bain Capital’s Double Impact Fund and fund manager Christopher Cozzone for defamation and breach of fiduciary duty, Bain Capital that seeks out sustainable businesses like By Chloe, Cory Schisler called Double Impact the “the hippie flower children within Bain Capital,”, Ousted as CEO, Bamboo Sushi founder sues Bain Capital fund over alleged ‘hostile takeover’, Bamboo Sushi founder raises the stakes in legal fight against investor Bain Capital, Bain Capital Has Invested in Bamboo Sushi — Here’s What That Really Means, A New Pop-Up Is Serving Yogurt-Marinated Fried Chicken on Falafel Waffles, Star Oregon Brewer Sean Burke Opens New McMinnville Brewery, 39 Percent of Oregon Restaurants May Close in Six Months Without Federal Stimulus, Study Finds, A List of Portland’s COVID-19-Related Permanent Restaurant Closures. Anticipating an Oregon shutdown, Lofgren says he started to secure funding and renegotiate leases, helping the company brace for the economic fallout. 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. Each Bamboo Sushi location serves a menu of signature sushi rolls, traditional nigiri, and Japanese-inspired plates to share. A Double Order of Sushi. They helped with ordering and explaining menu dishes. // ]]>// . 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. 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. One of Portland’s more prolific chains, Bamboo Sushi and its poke-centic, fast-casual sibling, Quickfish, operate locations in Seattle, California, Phoenix, and Denver, as well as Oregon. Bamboo Izakaya: 1409 N.E. “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. As a young woman, I was fortunate enough to travel to Hong Kong and experience the taste of Chinese food far beyond my own imagination. 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