Name: Twisted Root Burger Co. files for bankruptcy, keeps restaurants in North Texas closed
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Twisted Root Burger Co. files for bankruptcy, keeps restaurants in North Texas closed

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4:22 PM on Jun 23, 2020 CDTThe operators of Twisted Root Burger Co. in North Texas have submitted three bankruptcy filings for its restaurants in Coppell, Arlington and Carrollton.All nine Twisted Root restaurants in North Texas remain closed. They shuttered in late March, to curb the spread of the new coronavirus.Co-owner Jason Boso says he may file more Chapter 11 bankruptcy protection paperwork for the remaining six Twisted Roots if he can’t get a break on rent and food costs from landlords and vendors. Most of those will go into bankruptcy, he says.Related:Boso’s choice — to file for Chapter 11 instead of simply closing his restaurants — is rare among North Texas restaurateurs. , pay rent and retain staff during the COVID-19 pandemic.Boso’s bankruptcy filings signal interest in a reorganization — an attempt to someday reopen the restaurants, if the dollars and cents add up.“I think I’m one of the first to get on this [bankruptcy] bandwagon, but I’m certainly not going to be the last,” he said. “I think a lot of these guys that are open are winging it on a hope and a prayer. They’re dripping away their cash. By the time they go back to their landlord to negotiate a better lease to survive, it’s going to be too late. They’re going to be out of cash.”Bankruptcy protection will restructure the debts at Boso’s Twisted Root restaurants and allow him to start over. The restaurants’ liabilities are marked at $500,001 to $1 million at the Coppell and Arlington locations. Liabilities are $1,000,001 to $10 million in Carrollton.Related:Boso’s restaurants also received federal Payroll Protection Program loans, about $90,000 per location. That money will go mostly toward full-time staffers’ salaries. Boso says he furloughed 527 people at the start of the coronavirus pandemic, including himself. He currently has five employees.Of the 17 Twisted Roots across the United States, Boso operates 12. The other five are franchises. Boso says there’s no guarantee that any of his 12 burger joints will reopen.”That’s still to be learned as I cut deals with people,” he said. “It just doesn’t make financial sense to go into a new world with all the same costs of the old world. I’d rather close that restaurant than lose money.”Twisted Root’s parent company, Brain Storm Shelter, operates several other bars and restaurants in North Texas, including Truck Yard in Dallas and The Colony and Tacos &amp; Avocados in Mansfield. Truck Yard also operates a restaurant/bar in Houston.Truck Yard has fared better during the pandemic. The mostly outdoor beer gardens have reopened and have seen approximately 70% of their usual sales, Boso said.Truck Yard happened to be “set up really well for coronavirus,” he says: The outdoor seating is safer for customers worried about the spread of COVID-19, and the restaurants are statement-making properties, which means the rent matters to their landlords.“We’re making a lot of people down the way a lot of money,” Boso said. “It’s more scary to some landlords to lose our business there.”Boso does not plan to file for Chapter 11 bankruptcy protection for his three Truck Yard locations.Related:Subscribe to our foodie newsletter to get stories about restaurant openings, closings and where to eat next.By signing up you agree to our

4:22 PM on Jun 23, 2020 CDTThe operators of Twisted Root Burger Co. in North Texas have submitted three bankruptcy filings for its restaurants in Coppell, Arlington and Carrollton.All nine Twisted Root restaurants in North Texas remain closed. They shuttered in late March, to curb the spread of the new coronavirus.Co-owner Jason Boso says he may file more Chapter 11 bankruptcy protection paperwork for the remaining six Twisted Roots if he can’t get a break on rent and food costs from landlords and vendors. Most of those will go into bankruptcy, he says.Related:Boso’s choice — to file for...

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Twisted Root Burger Co. files for bankruptcy, keeps restaurants in North Texas closed

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