Industry News | October 19, 2016

Garden Fresh Restaurant Corp. to Auction Off Select Assets

At the direction of the bankruptcy estate, Tiger Capital Group's Commercial & Industrial Division will conduct an online auction on October 24 for cooking, food preparation, dining, support and other equipment—some as new as 2016—from 11 restaurant locations owned by Garden Fresh Restaurant Corp. in the Chicago and Dallas markets.

Ovens, mixers, refrigeration, dining tables, chairs, and other assets are being offered for sale on an individual basis; complete turnkey bids for fully loaded restaurants will also be considered. The assets from the 11 restaurants have been consolidated into six of the chain's locations in the Chicago and Dallas areas.

Online bidding will commence October 19 and will close in rapid succession, live auction style, on October 24, beginning at 10:30 a.m. (central). Assets will be available for inspection on October 23, from 10 a.m. to 4:00 p.m., at three Texas locations: Arlington, Irving, and Addison; and three in Illinois: Aurora, Lombard, and Waukegan.

"This sale represents a rare buying opportunity for restaurateurs, commissaries, grocers, municipal kitchens and other retail or wholesale kitchen operators," says John Coelho, Senior vice president of Tiger's Commercial & Industrial division.

Available cooking equipment includes ovens, jacketed soup kettles, and microwave ovens. Food preparation equipment up for sale includes mixers, metro racks, soup warmers, steam tables, coffee makers, and a frozen yogurt machines. Support equipment up for bid includes ice makers, refrigerators, freezers, walk-ins, exhaust hoods, dishwashers, prep tables, sinks, and a salad bars. Bidders can also purchase dining tables and chairs, and more.

Garden Fresh Restaurant Intermediate Holding, LLC filed for Chapter 11 bankruptcy protection on October 3, in the U.S. Bankruptcy Court, District of Delaware. Garden Fresh operates the Souplantation & Sweet Tomatoes brands.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.