Jump to content

VitaNova Brands: Difference between revisions

From Wikipedia, the free encyclopedia
Content deleted Content added
No edit summary
Old Country Buffet: Story in reference said they were all closed, and there is no intention in reopening any after buying their IP in bankruptcy court.
Tags: Mobile edit Mobile web edit
(46 intermediate revisions by 37 users not shown)
Line 1: Line 1:
{{Short description|American restaurant national}}
{{Short description|American restaurant national}}
{{More citations needed|date=June 2022}}
{{Infobox company
{{Infobox company
|name=VitaNova Brands
| name = VitaNova Brands
|logo_size=
| logo_size =
|logo_alt=
| logo_alt =
|logo_caption=
| logo_caption =
|logo_padding=
| logo_padding =
|image=Vitanova Brands logo.png
| image = Vitanova Brands logo.png
|image_size=
| image_size =
|image_alt=
| image_alt =
|image_caption=
| image_caption =
|former_name=Buffets, Inc. (1983–2013)<br>Ovation Brands (2013–2020)
| former_name = Buffets, Inc. (1983–2013)<br>Ovation Brands (2013–2020)
|type=[[Subsidiary]]
| type = [[Subsidiary]]
|industry=Restaurants
| industry = Restaurants
|fate=[[COVID-19 pandemic in the United States|COVID-19 pandemic]]
| fate = [[COVID-19 pandemic in the United States|COVID-19]]
|genre=<!-- Only used with media and publishing companies -->
| genre = <!-- Only used with media and publishing companies -->
|predecessor=<!-- or: | predecessors = -->
| predecessor = <!-- or: | predecessors = -->
|successor=<!-- or: | successors = -->
| successor = <!-- or: | successors = -->
|founded={{Start date and age|1983|10|19}}
| founded = {{Start date and age|1983|10|19}}
|founder=Roe Hatlen<br>C. Dennis Scott<br />Dermot Rowland<br>[[Doron Jensen]]
| founder = Roe Hatlen<br>C. Dennis Scott<br />Dermot Rowland<br>[[Doron Jensen]]
|defunct=<!-- {{end date|YYYY|MM|DD}} -->
| defunct = 2022
|hq_location=[[San Antonio]], [[Texas]]
| hq_location = [[San Antonio]], [[Texas]]
|hq_location_city=
| hq_location_city =
|hq_location_country=[[United States]]
| hq_location_country = [[United States]]
|num_locations= 0
| num_locations = 17
|area_served=United States
| area_served = United States
| key_people = {{Ubl
|products=[[Buffet]] and [[steakhouse]] style restaurants
| Jason Kemp|Allen Jones|Lawrence Harris|Brian Padilla
|brands=[[Furr's]]<br>HomeTown Buffet<br>Old Country Buffet<br>Ryan's Grill, Buffet and Bakery<br>[[Tahoe Joe's]]
}}
|services=Restaurants
| products = [[Buffet]] and [[steakhouse]] style restaurants
|owner=<!-- or: | owners = -->
| brands = [[Furr's]]<br>HomeTown Buffet<br>Old Country Buffet<br>Ryan's Grill, Buffet and Bakery<br>[[Tahoe Joe's]]
|num_employees=
| services = Restaurants
|num_employees_year=<!-- Year of num_employees data (when known) -->
| owner = <!-- or: | owners = -->
|parent=[[Independent business|Independent]] (1983–2015)<br>Food Management Partners (2015–2020)<br>Fresh Acquisitions, LLC (2020–present)
| num_employees =
|divisions=
| num_employees_year = <!-- Year of num_employees data (when known) -->
|subsid=
| parent = [[Independent business|Independent]] (1983–2015)<br>Food Management Partners (2015–2020)<br>Fresh Acquisitions, LLC (2020–2022)
|footnotes=
| divisions =
|website={{URL|https://www.vitanovabrands.com/}}
| subsid =
| footnotes =
| website = {{URL|https://www.vitanovabrands.com/}}
}}
}}
'''VitaNova Brands''', based in [[San Antonio]], [[Texas]], is a operator of a number of [[United States|American]] national [[buffet]] chain restaurants including subsidiary company [[Furr's]].
'''VitaNova Brands''', based in [[San Antonio]], [[Texas]], was an operator of a number of [[United States|American]] national [[buffet]] chain restaurants including subsidiary company [[Furr's]].


All of their Old Country Buffet, HomeTown Buffet and Ryan's Buffet locations have closed. Furr's locations still remain, as
All of their Old Country Buffet, HomeTown Buffet, Ryan's Buffet, and Curry House locations have closed.{{Citation needed|date=September 2021}}


The company's restaurants included steak-buffets, as well as steakhouse restaurants with menus that range from grilled-to-order steaks, single-serve dishes, scratch-made soups, entrees and desserts, beverage bars, buffets, chops and grilled seafood, and others. It was previously known as '''Buffets, Inc.'''<ref name="Bloomberg Company Overview of Ovation Brands, Inc.">{{cite web|title=Bloomberg Company Overview of Ovation Brands, Inc.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4875083|website=Bloomberg|publisher=Bloomberg|access-date=9 March 2016|archive-url=https://web.archive.org/web/20160309092124/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4875083|archive-date=9 March 2016|url-status=live}}</ref><ref>{{Cite web |url=http://wikimapia.org/1848493/Ryan-s-Corporate-Headquarters |title=Ryan's Corporate Headquarters |access-date=2009-06-08 |archive-url=https://web.archive.org/web/20090113110600/http://wikimapia.org/1848493/Ryan-s-Corporate-Headquarters |archive-date=2009-01-13 |url-status=live }}</ref><ref>[http://www.bizjournals.com/twincities/news/2013/10/18/ceo-goes-undercover-in-his-old-country.html "Old Country Buffet CEO goes undercover"] {{Webarchive|url=https://web.archive.org/web/20131021150539/http://www.bizjournals.com/twincities/news/2013/10/18/ceo-goes-undercover-in-his-old-country.html |date=2013-10-21 }}. Buffets. Retrieved on October 18, 2013.</ref> and '''Ovation Brands'''.
The company's restaurants included steak-buffets, as well as steakhouse restaurants with menus that range from grilled-to-order steaks, single-serve dishes, scratch-made soups, entrees and desserts, beverage bars, buffets, chops and grilled seafood, and others. It was previously known as '''Buffets, Inc.'''<ref name="Bloomberg Company Overview of Ovation Brands, Inc.">{{cite web|title=Bloomberg Company Overview of Ovation Brands, Inc.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4875083|website=Bloomberg|access-date=9 March 2016|archive-url=https://web.archive.org/web/20160309092124/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4875083|archive-date=9 March 2016|url-status=live}}</ref><ref>{{Cite web |url=http://wikimapia.org/1848493/Ryan-s-Corporate-Headquarters |title=Ryan's Corporate Headquarters |access-date=2009-06-08 |archive-url=https://web.archive.org/web/20090113110600/http://wikimapia.org/1848493/Ryan-s-Corporate-Headquarters |archive-date=2009-01-13 |url-status=live }}</ref><ref>[http://www.bizjournals.com/twincities/news/2013/10/18/ceo-goes-undercover-in-his-old-country.html "Old Country Buffet CEO goes undercover"] {{Webarchive|url=https://web.archive.org/web/20131021150539/http://www.bizjournals.com/twincities/news/2013/10/18/ceo-goes-undercover-in-his-old-country.html |date=2013-10-21 }}. Buffets. Retrieved on October 18, 2013.</ref> and '''Ovation Brands'''.


==History==
==History==
Line 53: Line 57:
Scott left in 1989 to start HomeTown Buffet, but the two chains merged in September 1996.
Scott left in 1989 to start HomeTown Buffet, but the two chains merged in September 1996.


Buffets Inc. in the late 1990s, posted a net income of $28.6 million in 1997 and $39.4 million in 1998, on revenues of $808.5 million and $868.9 million, respectively. In 1998 the company increased the number of company-owned restaurants from 360 to 386. Part of this increase came from the acquisition of 11 eating establishments from Country Harvest Buffet Restaurants, Inc., for $5.6 million.
Buffets Inc. in the late 1990s posted a net income of $28.6 million in 1997 and $39.4 million in 1998, on revenues of $808.5 million and $868.9 million, respectively. In 1998, the company increased the number of company-owned restaurants from 360 to 386. Part of this increase came from the acquisition of 11 eating establishments from Country Harvest Buffet Restaurants, Inc., for $5.6 million.


On November 1, 2006, Buffets Inc. acquired Ryan's Restaurant Group, adding 340 Ryan's Grill Buffet and Bakery and Fire Mountain Grills locations.<ref>{{Citation|url=http://www.buffet.com/companyinformation.htm |title=Company Information |url-status=dead |archive-url=https://web.archive.org/web/20070318012030/http://www.buffet.com/companyinformation.htm |archive-date=March 18, 2007 }}</ref>
On November 1, 2006, Buffets Inc. acquired Ryan's Restaurant Group, adding 340 Ryan's Grill Buffet and Bakery and Fire Mountain Grills locations.<ref>{{Citation|url=http://www.buffet.com/companyinformation.htm |title=Company Information |url-status=dead |archive-url=https://web.archive.org/web/20070318012030/http://www.buffet.com/companyinformation.htm |archive-date=March 18, 2007 }}</ref>
Line 59: Line 63:
On January 22, 2008, Buffets Inc. filed for [[bankruptcy]], under [[Chapter 11, Title 11, United States Code|Chapter 11]]. Although all restaurants were said to be staying open and continuing to operate normally under the then-current reorganization plan,<ref>{{Cite web|url=http://buffet.com/restructuring.htm |title=Hometown Buffet, Old Country Buffet & Country Buffet - Restructuring Info |url-status=dead |archive-url=https://web.archive.org/web/20080214185611/http://www.buffet.com/restructuring.htm |archive-date=February 14, 2008 }}</ref> the company called for the immediate closing of 52 stores nationwide, effective February 12, 2008. The final day of normal business operations in these stores, as well as the announcement of closing to all team members in said stores, took place the previous day.
On January 22, 2008, Buffets Inc. filed for [[bankruptcy]], under [[Chapter 11, Title 11, United States Code|Chapter 11]]. Although all restaurants were said to be staying open and continuing to operate normally under the then-current reorganization plan,<ref>{{Cite web|url=http://buffet.com/restructuring.htm |title=Hometown Buffet, Old Country Buffet & Country Buffet - Restructuring Info |url-status=dead |archive-url=https://web.archive.org/web/20080214185611/http://www.buffet.com/restructuring.htm |archive-date=February 14, 2008 }}</ref> the company called for the immediate closing of 52 stores nationwide, effective February 12, 2008. The final day of normal business operations in these stores, as well as the announcement of closing to all team members in said stores, took place the previous day.


On April 28, 2009, Buffets Inc. emerged from Chapter 11 reorganization with reduced debt along with a new Board of Directors.<ref>{{cite web|url=https://www.reuters.com/article/pressRelease/idUS267155+28-Apr-2009+BW20090428|archive-url=https://archive.today/20120907162710/http://www.reuters.com/article/pressRelease/idUS267155+28-Apr-2009+BW20090428|url-status=dead|archive-date=September 7, 2012|title=Buffets Holdings, Inc. Emerges from Chapter 11}}</ref>
On April 28, 2009, Buffets Inc. emerged from Chapter 11 reorganization with reduced debt along with a new board of directors.<ref>{{cite web|url=https://www.reuters.com/article/pressRelease/idUS267155+28-Apr-2009+BW20090428|archive-url=https://archive.today/20120907162710/http://www.reuters.com/article/pressRelease/idUS267155+28-Apr-2009+BW20090428|url-status=dead|archive-date=September 7, 2012|title=Buffets Holdings, Inc. Emerges from Chapter 11|website=[[Reuters]]}}</ref>


On January 18, 2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again. This involved the immediate closure of 81 restaurants throughout the country and recapitalizing in an agreement with its lenders that would convert debt into a controlling equity stake.<ref>{{cite web|title=Restaurant operator Buffets lands in bankruptcy again|url=https://www.reuters.com/article/us-buffets-idUSTRE80H1UR20120118|publisher=Reuters|date=18 January 2012|access-date=21 January 2012|archive-url=https://web.archive.org/web/20120121104247/http://www.reuters.com/article/2012/01/18/us-buffets-idUSTRE80H1UR20120118|archive-date=21 January 2012|url-status=live}}</ref>
On January 18, 2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again. This involved the immediate closure of 81 restaurants throughout the country and recapitalizing in an agreement with its lenders that would convert debt into a controlling equity stake.<ref>{{cite web|title=Restaurant operator Buffets lands in bankruptcy again|url=https://www.reuters.com/article/us-buffets-idUSTRE80H1UR20120118|publisher=Reuters|date=18 January 2012|access-date=21 January 2012|archive-url=https://web.archive.org/web/20120121104247/http://www.reuters.com/article/2012/01/18/us-buffets-idUSTRE80H1UR20120118|archive-date=21 January 2012|url-status=live}}</ref>


On March 7, 2016, Ovation Brands filed for Chapter 11 bankruptcy after closing dozens of locations. The bankruptcy was blamed on a lawsuit that had not been disclosed when the current owner bought the businesses in August 2015. The landlord of 16 of Ovation's locations sued the company in February after the closure of 8 of those units. Buffets LLC, which is an affiliate of Food Management Partners, paid an undisclosed amount in August 2015 for Old Country Buffet, Ryan's, Fire Mountain and Tahoe Joe's, in addition to HomeTown. According to court documents, 150 restaurants that were operated by those chains, were part of the bankruptcy filing. According to a court filing by Ovation, the company had $186.3 million in liabilities and $160.2 million in assets.<ref>{{cite web|last1=Hals|first1=Tom|title=HomeTown Buffet, affiliated dining chains file for bankruptcy|url=https://www.reuters.com/article/us-ovationbrands-buffet-bankruptcy-idUSKCN0W91QE|website=Reuters|publisher=Reuters|access-date=7 March 2016|archive-url=https://web.archive.org/web/20160307173548/http://www.reuters.com/article/us-ovationbrands-buffet-bankruptcy-idUSKCN0W91QE|archive-date=7 March 2016|url-status=live}}</ref>
On March 7, 2016, Ovation Brands filed for Chapter 11 bankruptcy after closing dozens of locations. The bankruptcy was blamed on a lawsuit that had not been disclosed when the current owner bought the businesses in August 2015. The landlord of 16 of Ovation's locations sued the company in February after the closure of 8 of those units. Buffets LLC, which is an affiliate of Food Management Partners, paid an undisclosed amount in August 2015 for Old Country Buffet, Ryan's, Fire Mountain and Tahoe Joe's, in addition to HomeTown. According to court documents, 150 restaurants that were operated by those chains were part of the bankruptcy filing. According to a court filing by Ovation, the company had $186.3 million in liabilities and $160.2 million in assets.<ref>{{cite news|last1=Hals|first1=Tom|title=HomeTown Buffet, affiliated dining chains file for bankruptcy|url=https://www.reuters.com/article/us-ovationbrands-buffet-bankruptcy-idUSKCN0W91QE|website=Reuters|date=7 March 2016|agency=Reuters|access-date=7 March 2016|archive-url=https://web.archive.org/web/20160307173548/http://www.reuters.com/article/us-ovationbrands-buffet-bankruptcy-idUSKCN0W91QE|archive-date=7 March 2016|url-status=live}}</ref>


Due to the [[COVID-19 pandemic in the United States|COVID-19 pandemic]], all of the buffet-style restaurants closed in March 2020. Five locations reopened as "AYCE Marketplaces" in summer 2020. As of January 15, 2021, all Old Country, HomeTown, and Ryan's Buffet locations have permanently closed, and nearly all have been auctioned off by Auction Nation.
Due to the [[COVID-19 pandemic in the United States|COVID-19 pandemic]], all of the buffet-style restaurants closed in March 2020. Five locations reopened as "AYCE Marketplaces" in summer 2020. As of January 15, 2021, all Old Country, HomeTown, and Ryan's Buffet locations have permanently closed, and nearly all have been auctioned off by Auction Nation.




==Chains==
==Chains==
{{Refimprove|date=October 2019}}
{{More citations needed|date=October 2019}}

===Old Country Buffet===
===Old Country Buffet===
[[File:Old Country Buffet Ann Arbor.JPG|thumb|250px|right|Former Old Country Buffet location in [[Ann Arbor, Michigan|Ann Arbor]], [[Michigan]].]]
[[File:Old Country Buffet Ann Arbor.JPG|thumb|250px|right|Former Old Country Buffet location in [[Ann Arbor, Michigan|Ann Arbor]], [[Michigan]].]]
As of May 2021, Old Country Buffet website is down. The parent company Fresh Acquisitions, LLC and Buffets LLC have filed bankruptcy again making the chain non existent. At one time, there were more than 350 Old Country Buffet restaurants, primarily in the midwest.{{Citation needed|date=October 2019}}
After the 2020 COVID-19 pandemic, most Old Country Buffet restaurants closed. The parent company Fresh Acquisitions, LLC and Buffets LLC filed bankruptcy again. In bankruptcy its IP was sold as a combination with other IP's. The new owners indicated they were uninterested in reopening any stores after acquiring the brand making the restaurant now non-existent. At one time, there were more than 600 Old Country Buffet restaurants.<ref>{{cite web |last1=Kelly |first1=Brianna |title=BBQ Holdings buying Old Country Buffet's parent company out of bankruptcy |url=https://www.bizjournals.com/twincities/news/2021/10/06/bbq-holdings-buys-fresh-acqusitions.html#:~:text=Famous%20Dave%27s%20parent%20BBQ%20Holdings%20Inc.%20is%20set%20to%20acquire,according%20to%20CEO%20Jeff%20Crivello. |website=www.bizjournals.com |publisher=Minneapolis / St. Paul Business Journal |access-date=3 April 2023 |language=en |date=Oct 6, 2021}}</ref>


===HomeTown Buffet===
===HomeTown Buffet===
HomeTown Buffet website is down. At one time, there were more than 250 restaurants open under the HomeTown Buffet brand, primarily in the West Coast and Northeast regions.{{Citation needed|date=July 2021}} In the late 1990s, several restaurants rebranded from Old Country Buffet to HomeTown Buffet when the two chains merged.
At one time, there were more than 250 restaurants open under the HomeTown Buffet brand, primarily in the West Coast and Northeast regions.{{Citation needed|date=July 2021}} In the late 1990s, several restaurants rebranded from Old Country Buffet to HomeTown Buffet when the two chains merged.


===Ryan's Buffet and Grill/Ryan's Restaurant Group===
===Ryan's Buffet and Grill/Ryan's Restaurant Group===
Line 80: Line 87:
Some of its accolades include being one of the "Best Small Companies in America" seven consecutive years, and named "Top Family Steakhouse in America" for 10 consecutive years.<ref>[http://www.ryans.com/company-information.asp Company Information] {{webarchive |url=https://web.archive.org/web/20090501041530/http://www.ryans.com/company-information.asp |date=May 1, 2009 }}</ref>
Some of its accolades include being one of the "Best Small Companies in America" seven consecutive years, and named "Top Family Steakhouse in America" for 10 consecutive years.<ref>[http://www.ryans.com/company-information.asp Company Information] {{webarchive |url=https://web.archive.org/web/20090501041530/http://www.ryans.com/company-information.asp |date=May 1, 2009 }}</ref>


Ryan's Restaurants once had more than 400 locations primarily in the South and Midwest.<ref>{{Cite web|title=Bankrupted Ryan's Steakhouse shuts down 81 eateries|url=https://www.timesfreepress.com/news/business/aroundregion/story/2012/jan/21/bankrupted-ryans-shuts-81-eateries/68885/|access-date=2021-03-08|website=timesfreepress.com}}</ref>
Ryan's Restaurants once had more than 400 locations primarily in the South and Midwest.<ref>{{Cite web|title=Bankrupted Ryan's Steakhouse shuts down 81 eateries|url=https://www.timesfreepress.com/news/business/aroundregion/story/2012/jan/21/bankrupted-ryans-shuts-81-eateries/68885/|access-date=2021-03-08|website=timesfreepress.com|date=21 January 2012 }}</ref>


The last one to close was a location in 988 Goodman Rd, Horn Lake, MS 38637 that has been replaced by a Golden Corral Buffet.
The last one to close was a location in 988 Goodman Rd, Horn Lake, Mississippi 38637 that has been replaced by a [[Golden Corral]].<ref>{{Cite web|url=https://www.google.com/maps/place/Golden+Corral+Buffet+%26+Grill/@34.9631497,-90.010536,17z/data=!3m1!4b1!4m5!3m4!1s0x87d5620fea6c0dd9:0x294b46e110cda5bc!8m2!3d34.9632099!4d-90.0082358|title = Golden Corral Buffet & Grill · 988 Goodman Rd, Horn Lake, MS 38637}}</ref>
<ref>{{https://www.google.com/maps/place/Golden+Corral+Buffet+%26+Grill/@34.9631497,-90.010536,17z/data=!3m1!4b1!4m5!3m4!1s0x87d5620fea6c0dd9:0x294b46e110cda5bc!8m2!3d34.9632099!4d-90.0082358}}</ref>


===Other restaurants===
===Other restaurants===
*'''[[Tahoe Joe's]] Famous Steakhouse''' has eight locations in [[California]].<ref>{{Cite web |url=http://www.tahoejoes.com/locator |title=Company Information |access-date=2016-10-01 |archive-url=https://web.archive.org/web/20180816194349/https://www.tahoejoes.com/locator |archive-date=2018-08-16 |url-status=live }}</ref>
*'''[[Tahoe Joe's]] Famous Steakhouse''' has three locations in [[California]].<ref>{{Cite web |url=http://www.tahoejoes.com/locator |title=Company Information |access-date=2016-10-01 |archive-url=https://web.archive.org/web/20180816194349/https://www.tahoejoes.com/locator |archive-date=2018-08-16 |url-status=live }}</ref>
*'''[[Curry House (restaurant chain)|Curry House]]''' had nine locations in [[California]], until they were shut down without notice on February 24, 2020.


==See also==
==See also==
Line 95: Line 102:


==External links==
==External links==
* [https://web.archive.org/web/20050315003554/http://www.buffet.com/ www.Buffet.com/ Buffet Website]
* {{Official website|https://www.vitanovabrands.com/}}
* [https://web.archive.org/web/19990125101805/http://www.oldcountrybuffet.com/ Old Country Buffet Website]
* [https://web.archive.org/web/19991128201610/http://hometownbuffet.com/ HomeTown Buffet Website]
* [https://web.archive.org/web/19961219081218/http://www.ryans.com/ Ryan's Website]
* [http://tahoejoes.com/ Tahoe Joe's Website]
* [http://tahoejoes.com/ Tahoe Joe's Website]


{{2008 economic crisis}}
{{2008 economic crisis}}


{{DEFAULTSORT:Ovation Brands, Inc.}}
[[Category:1983 establishments in Minnesota]]
[[Category:1983 establishments in Minnesota]]
[[Category:2015 mergers and acquisitions]]
[[Category:2015 mergers and acquisitions]]
Line 112: Line 115:
[[Category:Companies that filed for Chapter 11 bankruptcy in 2016]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2016]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2021]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2021]]
[[Category:Food and drink companies of the United States]]
[[Category:Restaurant chains in the United States]]
[[Category:Private equity portfolio companies]]
[[Category:Private equity portfolio companies]]
[[Category:Companies based in San Antonio]]

Revision as of 03:41, 14 June 2024

VitaNova Brands
FormerlyBuffets, Inc. (1983–2013)
Ovation Brands (2013–2020)
Company typeSubsidiary
IndustryRestaurants
FoundedOctober 19, 1983; 41 years ago (1983-10-19)
FounderRoe Hatlen
C. Dennis Scott
Dermot Rowland
Doron Jensen
Defunct2022
FateCOVID-19
HeadquartersSan Antonio, Texas,
Number of locations
17
Area served
United States
Key people
  • Jason Kemp
  • Allen Jones
  • Lawrence Harris
  • Brian Padilla
ProductsBuffet and steakhouse style restaurants
BrandsFurr's
HomeTown Buffet
Old Country Buffet
Ryan's Grill, Buffet and Bakery
Tahoe Joe's
ServicesRestaurants
ParentIndependent (1983–2015)
Food Management Partners (2015–2020)
Fresh Acquisitions, LLC (2020–2022)
Websitewww.vitanovabrands.com

VitaNova Brands, based in San Antonio, Texas, was an operator of a number of American national buffet chain restaurants including subsidiary company Furr's.

All of their Old Country Buffet, HomeTown Buffet, Ryan's Buffet, and Curry House locations have closed.[citation needed]

The company's restaurants included steak-buffets, as well as steakhouse restaurants with menus that range from grilled-to-order steaks, single-serve dishes, scratch-made soups, entrees and desserts, beverage bars, buffets, chops and grilled seafood, and others. It was previously known as Buffets, Inc.[1][2][3] and Ovation Brands.

History

Buffets, Inc. logo (1983–2013)
Old Country Buffet logo (1983–2020)
Country Buffet logo (1983–2018)
HomeTown Buffet logo (1989–2020)
Ryan's Buffet logo (1977–2020)

The company was founded by Roe Hatlen and C. Dennis Scott on October 19, 1983, along with Dermot Rowland and Doron Jensen. Rowland and Jensen left in 1986 to start Homestyle Buffet in Clearwater, Florida.

Scott left in 1989 to start HomeTown Buffet, but the two chains merged in September 1996.

Buffets Inc. in the late 1990s posted a net income of $28.6 million in 1997 and $39.4 million in 1998, on revenues of $808.5 million and $868.9 million, respectively. In 1998, the company increased the number of company-owned restaurants from 360 to 386. Part of this increase came from the acquisition of 11 eating establishments from Country Harvest Buffet Restaurants, Inc., for $5.6 million.

On November 1, 2006, Buffets Inc. acquired Ryan's Restaurant Group, adding 340 Ryan's Grill Buffet and Bakery and Fire Mountain Grills locations.[4]

On January 22, 2008, Buffets Inc. filed for bankruptcy, under Chapter 11. Although all restaurants were said to be staying open and continuing to operate normally under the then-current reorganization plan,[5] the company called for the immediate closing of 52 stores nationwide, effective February 12, 2008. The final day of normal business operations in these stores, as well as the announcement of closing to all team members in said stores, took place the previous day.

On April 28, 2009, Buffets Inc. emerged from Chapter 11 reorganization with reduced debt along with a new board of directors.[6]

On January 18, 2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again. This involved the immediate closure of 81 restaurants throughout the country and recapitalizing in an agreement with its lenders that would convert debt into a controlling equity stake.[7]

On March 7, 2016, Ovation Brands filed for Chapter 11 bankruptcy after closing dozens of locations. The bankruptcy was blamed on a lawsuit that had not been disclosed when the current owner bought the businesses in August 2015. The landlord of 16 of Ovation's locations sued the company in February after the closure of 8 of those units. Buffets LLC, which is an affiliate of Food Management Partners, paid an undisclosed amount in August 2015 for Old Country Buffet, Ryan's, Fire Mountain and Tahoe Joe's, in addition to HomeTown. According to court documents, 150 restaurants that were operated by those chains were part of the bankruptcy filing. According to a court filing by Ovation, the company had $186.3 million in liabilities and $160.2 million in assets.[8]

Due to the COVID-19 pandemic, all of the buffet-style restaurants closed in March 2020. Five locations reopened as "AYCE Marketplaces" in summer 2020. As of January 15, 2021, all Old Country, HomeTown, and Ryan's Buffet locations have permanently closed, and nearly all have been auctioned off by Auction Nation.


Chains

Old Country Buffet

Former Old Country Buffet location in Ann Arbor, Michigan.

After the 2020 COVID-19 pandemic, most Old Country Buffet restaurants closed. The parent company Fresh Acquisitions, LLC and Buffets LLC filed bankruptcy again. In bankruptcy its IP was sold as a combination with other IP's. The new owners indicated they were uninterested in reopening any stores after acquiring the brand making the restaurant now non-existent. At one time, there were more than 600 Old Country Buffet restaurants.[9]

HomeTown Buffet

At one time, there were more than 250 restaurants open under the HomeTown Buffet brand, primarily in the West Coast and Northeast regions.[citation needed] In the late 1990s, several restaurants rebranded from Old Country Buffet to HomeTown Buffet when the two chains merged.

Ryan's Buffet and Grill/Ryan's Restaurant Group

Ryan's was founded by Alvin A. McCall in 1977. It was acquired by Buffets, Inc. on November 1, 2006.[10] Some of its accolades include being one of the "Best Small Companies in America" seven consecutive years, and named "Top Family Steakhouse in America" for 10 consecutive years.[11]

Ryan's Restaurants once had more than 400 locations primarily in the South and Midwest.[12]

The last one to close was a location in 988 Goodman Rd, Horn Lake, Mississippi 38637 that has been replaced by a Golden Corral.[13]

Other restaurants

See also

References

  1. ^ "Bloomberg Company Overview of Ovation Brands, Inc". Bloomberg. Archived from the original on 9 March 2016. Retrieved 9 March 2016.
  2. ^ "Ryan's Corporate Headquarters". Archived from the original on 2009-01-13. Retrieved 2009-06-08.
  3. ^ "Old Country Buffet CEO goes undercover" Archived 2013-10-21 at the Wayback Machine. Buffets. Retrieved on October 18, 2013.
  4. ^ Company Information, archived from the original on March 18, 2007
  5. ^ "Hometown Buffet, Old Country Buffet & Country Buffet - Restructuring Info". Archived from the original on February 14, 2008.
  6. ^ "Buffets Holdings, Inc. Emerges from Chapter 11". Reuters. Archived from the original on September 7, 2012.
  7. ^ "Restaurant operator Buffets lands in bankruptcy again". Reuters. 18 January 2012. Archived from the original on 21 January 2012. Retrieved 21 January 2012.
  8. ^ Hals, Tom (7 March 2016). "HomeTown Buffet, affiliated dining chains file for bankruptcy". Reuters. Reuters. Archived from the original on 7 March 2016. Retrieved 7 March 2016.
  9. ^ Kelly, Brianna (Oct 6, 2021). "BBQ Holdings buying Old Country Buffet's parent company out of bankruptcy". www.bizjournals.com. Minneapolis / St. Paul Business Journal. Retrieved 3 April 2023.
  10. ^ Buffets merges with Ryan's
  11. ^ Company Information Archived May 1, 2009, at the Wayback Machine
  12. ^ "Bankrupted Ryan's Steakhouse shuts down 81 eateries". timesfreepress.com. 21 January 2012. Retrieved 2021-03-08.
  13. ^ "Golden Corral Buffet & Grill · 988 Goodman Rd, Horn Lake, MS 38637".
  14. ^ "Company Information". Archived from the original on 2018-08-16. Retrieved 2016-10-01.