Romano's Macaroni Grill yesterday announced its emergence from Chapter 11 bankruptcy. Romano's Macaroni Grill has been a pioneer in the space and has successfully leveraged the court administered restructuring process to shed legacy liabilities and significantly strengthen the Company, amid industry headwinds.
The Company filed for Chapter 11 protection on October 18, 2017 and emerged from bankruptcy on February 15, 2018. The Company successfully renegotiated lease terms, vendor contracts and secured $13.5MM in new capital to both fund the restructuring efforts and invest directly in the Company in the form of human capital and systems.
"Macaroni Grill is without a doubt one of the premier Italian dining options in the industry. The Company has forged the path for Italian dining with ingredients coming straight from Italy and an environment that is focused on genuine hospitality and generosity. Through the restructuring and turnaround process, the Company has firmly re-established itself and the results have been tremendous, which is a testament to the brand, our team and our loyal guests," said Nishant Machado of Mackinac Partners who serves as CRO and CEO of Macaroni Grill.
Romano's Macaroni Grill is focused on the future and on continuing to exceed guests' expectations with its award-winning food and dedication to hospitality.
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