A casual experience bringing sustainable seafood to everyone. All rights reserved. Based in Portland, Oregon with locations primarily in the Northwest, Bamboo Sushi owns and operates the world’s first certified sustainable sushi restaurants. 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. The company was pursued by Double Impact, the socially conscious corner of Bain Capital that seeks out sustainable businesses like By Chloe. “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. Bamboo Grille, Wailuku. 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 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. “The fact remains that following a routine audit, the SRH Board determined that actions by Mr. Lofgren constituted cause for his termination as Chief Executive Officer.” Bain Capital and Sustainable Restaurant Holdings chose not to respond to specific claims made within the lawsuit. Yiyang Hexiang Bamboo Co., Ltd: Our bamboo chopsticks are suitable for various Asian restaurants or supermarkets. '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. Bamboo on 2nd serves a Pan-Asian menu boasting noodle bowls, bamboo skewers, sashimi (raw fish), nigiri (raw fish on rice) and small plates like ceviche tacos, poke bowls, tuna tataki and more.Choose from 21 creative sushi rolls ranging from $8 to $16, and wash it all down with sake or locally crafted beer. They helped with ordering and explaining menu dishes. He says the banker, unbeknownst to him, took $650,000 out of his personal account and the final $250,000 out of the company’s business line of credit. 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. Can be customized according to your needs, we also have bamboo stick bamboo steamer etc, welcome to contact us. Bamboo Izakaya: 1409 N.E. Sushi rolls are 30% off during evening happy hour. When Lofgren refused to give up more shares, the lawsuit claims Bain Capital threatened to retroactively terminate him “for cause,” “falsely claiming that a 2017 accounting error on SRH’s books somehow constituted fraud on Mr. Lofgren’s part.”. Alberta St., Portland, 503-889-0336 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. 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. 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. Abhi Sainju, a native of Nepal who has operated Everest Sushi catering, is the executive chef. He says he was unaware of the change because he was traveling. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500. 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. “Mr. 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. Portland, Oregon, U.S.A.-based Sustainable Restaurant Holdings (SRH), has filed for chapter 11 bankruptcy. 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.”. “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. We had a great time. The lawsuit claims Bain Capital postured as a socially conscious investment firm before instituting a “hostile takeover” of Sustainable Restaurant … 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. “In this environment, we simply are not able to generate sufficient revenue to meet our day-to-day and long-term obligations. stLight.options({publisher: "d264abd5-77a9-4dfd-bee5-44f5369b1275", doNotHash: false, doNotCopy: false, hashAddressBar: false}); 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. 20-25,000Square feetNationalMarketPuttshack is part of a ground-breaking social entertainment brand founded by Adam Breeden, founder of Acebounce and co-founder of Flight Club and Steve and Dave Jolliffe, founders of Top […] Take your bamboo mat and cover it tightly with some plastic wrap to stop the rice from sticking to the grooves of the mat. “We recognize that Bamboo Sushi is an institution in Portland and we take that responsibility seriously. 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. // ]]>. 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. At Bamboo Hyannis, we only use the freshest ingredients and authentic Chinese and Japanese spices to give you an authentic taste experience. The history of 寿司(Sushi) began with paddy fields in Southeast Asia, where fish was fermented with rice vinegar, salt and rice, after which the rice was discarded. [CDATA[ The suit also claims Cozzone undervalued the company for the share purchasing, claiming it was worth only $15 million as opposed to $40 million. Our restaurants showcase a full cocktail program as well as a exciting saké selection. “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. “Bain further claimed that, unlike most private equity funds, its Double Impact Fund invested in long term growth rather than seeking a quick expansion and payoff,” the complaint reads. Bamboo: buffet was good - See 118 traveler reviews, 51 candid photos, and great deals for Hyannis, MA, at Tripadvisor. Then add in the avocado and roll the nori. In a lawsuit against Bain Capital’s Double Impact Fund, former CEO Kristofor Lofgren says the company instituted a “hostile takeover” of his company. Hello, My name is Yin Thong, owner of Bambu. The dish is today known as narezushi, and was introduced to Japan around the Yayoi period. Located in Hyannis, MA. 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. 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. Anticipating an Oregon shutdown, Lofgren says he started to secure funding and renegotiate leases, helping the company brace for the economic fallout. 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. Then, we can get the sushi rolling. : Quickfish. 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. Each Bamboo Sushi location serves a menu of signature sushi rolls, traditional nigiri, and Japanese-inspired plates to share. We encourage you to see and taste a variety of dishes and pass them around the table. However, SRH said it does not intend to close any of its 10 restaurants. 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. Bamboo Sushi founder seeks to change the way people think about seafood. 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. “SRH intends to continue to operate its restaurants on the limited basis required by the COVID-19 pandemic. Sortis also helped bring Rudy's Barbershop out of bankruptcy this year. 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. Back in 2018, SRH agreed to accept $15 million from Bain Capital “in exchange for a 23% ownership interest in the company,” the lawsuit reads. The Bamboo House is a hidden gem on Harrison ave near 74@Rybolt Rd exit. 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. 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. 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. Park thanked the restaurant company’s suppliers and customers for their outreach and support. They do have a luncheon special menu with very nice bento boxes and sushi combinations. The company continues to offer pick-up and delivery at several of its Bamboo Sushi locations in the Portland area. 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. This didn’t seem to concern the folks at Bamboo Sushi when they started to look for funding. However, according to the complaint, it was only a few months before Bain Capital considered withholding $7.4 million of contractually promised funding unless the company quickly increased its profitability. Not sure what any negative service reviews were about as we were greeted quickly and with a smile. 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. 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. Hawaiian Food, American and Japanese Food. 969 likes. // ]]>// // < opening Downtown early next year, the... High prices ave near 74 @ Rybolt Rd exit Sustainable Sushi restaurants Sushi Aoi packs abundant style into its space! Blue fin tuna the Yayoi period based in Portland, Oregon, in 2006 to go to school... Needs, we simply are not able to generate sufficient revenue to meet our day-to-day and obligations. 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