Growth Chains: Clarke's StandardGrowth Chains: Clarke's Standard

When restaurateur Philip Scotti, Arnold Penner and a group of investors bought P.J. Clarke’s in 2002, they had no other plans than to resuscitate the then-bankrupt New York institution known since 1884 for burgers, beer and conversation.

But in the restaurant world, Scotti said, “There’s always a surprise or two.”

Since closing, renovating and then reopening the iconic bar and restaurant in 2003, The Clarkes’ Group has opened five new P.J. Clarke’s in cities as diverse as Washington, Las Vegas and São Paulo, and the business has grown from $1.2 million to close to $15 million. And in February Scotti and John Murphy, one of the P.J. Clarke’s investors, launched Clarke’s Standard, a fast-casual burger spinoff.

“I saw the market change a bit. ...