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Golden Corral’s second largest franchisee, Platinum Corral, files for Chapter 11 bankruptcy protectionGolden Corral’s second largest franchisee, Platinum Corral, files for Chapter 11 bankruptcy protection

Buffet chain’s largest franchisee, 1069 Restaurant Group LLC, went bankrupt in October

Bret Thorn, Senior Food Editor

April 13, 2021

1 Min Read
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Golden Corral’s second largest franchisee has filed for Chapter 11 bankruptcy protection and has closed most of its restaurants, according to court documents filed on Friday.

Platinum Corral LLC said it owed $49.4 million, including nearly $5.6 million in rent and $6.7 million in two Paycheck Protection Program loans.

The company, owned by Louis William Sewell III and headquartered in Jacksonville, N.C., had 28 locations at the end of 2019 in North Carolina, Virginia, South Carolina, Ohio, West Virginia and Kentucky, with sales of more than $89 million. All of them were closed by March 20, 2020, amid lockdown orders related to the coronavirus pandemic. Since then, six locations in North Carolina — in Jacksonville, Burlington, Hickory, Concord, Ashboro and Charlotte — have reopened, as have four units in Virginia — in Colonial Heights, Roanoke, Lynchburg and Glen Allen. The company plans to reopen its restaurants in Richmond, Va., and Greenville, N.C., but the remaining 16 units will remain closed. They are in Sumter, S.C., the North Carolina communities of Lexington, Reidsville and Wake Forest; the Kentucky communities of Winchester, Elizabethtown and Ashland; the Ohio communities of, Zanesville, Gallipolis, Lancaster and Chillicothe; the Virginia communities of Danville and Christianburg; and the West Virginia communities of Cross Lanes, Parkersburg and Huntington.

Related:Golden Corral franchise group 1069 Restaurant Group LLC files Chapter 11 bankruptcy

Platinum Corral cited the devastating business effects of the pandemic on the restaurants, which were particularly dire for buffet chains such as Golden Corral. That Raleigh, N.C.-based franchisor closed its 35 company-owned units in March, and its largest franchisee, 1069 Restaurant Group LLC, filed for bankruptcy protection in October.

Contact Bret Thorn at [email protected] 

Follow him on Twitter: @foodwriterdiary

 

 

About the Author

Bret Thorn

Senior Food Editor, Nation's Restaurant News

Senior Food & Beverage Editor

Bret Thorn is senior food & beverage editor for Nation’s Restaurant News and Restaurant Hospitality for Informa’s Restaurants and Food Group, with responsibility for spotting and reporting on food and beverage trends across the country for both publications as well as guiding overall F&B coverage. 

He is the host of a podcast, In the Kitchen with Bret Thorn, which features interviews with chefs, food & beverage authorities and other experts in foodservice operations.

From 2005 to 2008 he also wrote the Kitchen Dish column for The New York Sun, covering restaurant openings and chefs’ career moves in New York City.

He joined Nation’s Restaurant News in 1999 after spending about five years in Thailand, where he wrote articles about business, banking and finance as well as restaurant reviews and food columns for Manager magazine and Asia Times newspaper. He joined Restaurant Hospitality’s staff in 2016 while retaining his position at NRN. 

A magna cum laude graduate of Tufts University in Medford, Mass., with a bachelor’s degree in history, and a member of Phi Beta Kappa, Thorn also studied traditional French cooking at Le Cordon Bleu Ecole de Cuisine in Paris. He spent his junior year of college in China, studying Chinese language, history and culture for a semester each at Nanjing University and Beijing University. While in Beijing, he also worked for ABC News during the protests and ultimate crackdown in and around Tiananmen Square in 1989.

Thorn’s monthly column in Nation’s Restaurant News won the 2006 Jesse H. Neal National Business Journalism Award for best staff-written editorial or opinion column.

He served as president of the International Foodservice Editorial Council, or IFEC, in 2005.

Thorn wrote the entry on comfort food in the Oxford Encyclopedia of Food and Drink in America, 2nd edition, published in 2012. He also wrote a history of plated desserts for the Oxford Companion to Sugar and Sweets, published in 2015.

He was inducted into the Disciples d’Escoffier in 2014.

A Colorado native originally from Denver, Thorn lives in Brooklyn, N.Y.

Bret Thorn’s areas of expertise include food and beverage trends in restaurants, French cuisine, the cuisines of Asia in general and Thailand in particular, restaurant operations and service trends. 

Bret Thorn’s Experience: 

Nation’s Restaurant News, food & beverage editor, 1999-Present
New York Sun, columnist, 2005-2008 
Asia Times, sub editor, 1995-1997
Manager magazine, senior editor and restaurant critic, 1992-1997
ABC News, runner, May-July, 1989

Education:
Tufts University, BA in history, 1990
Peking University, studied Chinese language, spring, 1989
Nanjing University, studied Chinese language and culture, fall, 1988 
Le Cordon Bleu Ecole de Cuisine, Cértificat Elémentaire, 1986

Email: [email protected]

Social Media:
LinkedIn: https://www.linkedin.com/in/bret-thorn-468b663/
Facebook: https://www.facebook.com/bret.thorn.52
Twitter: @foodwriterdiary
Instagram: @foodwriterdiary

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