If you were a fan of the vegan restaurant By Chloe, there is good news. The current owners, BC Hospitality Group has agreed to sell the chain out of bankruptcy to a group of investors including QOOT International, Simple Capital Management LLC, Kitchen Fund, Lion Capital LLC, and Bain Capital Double Impact Fund.
According to Vegconomist, the group has agreed to pay $333,000 as well as the assumption of its debts, though it has been ruled that moving forward it must operate under a different name.
By Chloe was a vegan success story – launching in 2015 and quickly establishing a chain of restaurants around the globe including several outlets in London. It offered a mixture of classic fast-food staples – vegan burgers etc often with a local twist based on where the restaurant was located.
The chain however was badly damaged by the Covid-19 pandemic and BC Hospitality Group filed for bankruptcy protection in December 2020.
By Chloe will live on for up to six months. After that time the new owners will have to transition to a new name.