Bread & Butter Concepts hopes to sell assets

The onset of COVID-19 did little to help the struggling Bread & Butter Concepts LLC, the company now hoping to sell the majority of its assets.

In Nov. 2019, the restaurant group filed for Chapter 11 bankruptcy after reporting it was facing difficulty with competition, a tight labor pool and rising costs.

Regaining some momentum after the filing, Bread & Butter hit another bump when COVID-19 shut down businesses in March and again during protests on the Country Club Plaza, where two of their restaurants are located.

“While this reality has pushed healthy companies to the brink, companies that were already struggling for survival are now even closer to the edge,” Bread & Butter said. “The challenge is especially acute for the restaurant industry in Chapter 11 because actions that most restaurants and retailers are taking out of court — not paying rent and stretching payments — are subject to the elevated priority of the Bankruptcy Code.”

With interested buyers, Bread & Butter waiting on court approval in order to go ahead with plans to sell $850,000 worth of assets including Gram & Dun, Cherry Hall event space and Urban Table properties.