The parent companies of Ludlow & Prime and Five-O Donut Co. both list the Small Business Administration as their biggest creditor
Brentwood, Tenn.-based Ludlow Hospitality LLC, parent company of Ludlow & Prime and Ludlow’s Gumbo Bar, has filed for Chapter 11 bankruptcy protection in the Middle District of Tennessee court. The concept first opened in 2016, serving modern American cuisine, steak, and seafood cooked on a signature wood-fired grill.
Ludlow & Prime also offers private events capabilities, including an exclusive Boardroom and specially crafted tier menus.
According to the company’s court documents, the company identifies up to 49 creditors with liabilities between $1 million and $10 million and assets of between $100,001 and $500,000. The list of creditors includes the U.S. Small Business Administration, to which it owes $1.1 million.
Meanwhile, Epic Sweets Group, parent company of Sarasota, Fla.-based Five-O Donut Co. has filed for Chapter 11 bankruptcy protection in the Middle District of Florida.
The concept was founded in 2017 and now includes five locations in Sarasota, Bradenton, and Ellenton, Fla. It is known for using traditional techniques and high-quality ingredients to create donuts rotated daily. At least 24 different flavors are available, ranging from the Cookie Monster and Cinnamon Toast Crunch to Lemon Old Fashioned and Maple Iced Long John. It also sells vegan and gluten-free options, donut cakes, roasted coffee, house made cold brew, and locally sourced Dakin Dairy.
According to its court documents, the company owes 1 to 49 creditors between $1 million and $10 million and has $100,000 to $500,000 in assets. Like Ludlow, its biggest claim is with the SBA, to which it owes $508,000.
Ludlow and Epic Sweets join a growing list of bankruptcies filed this year, and a record number in the restaurant space specifically, according to the Wall Street Journal.
That list includes Original Harold’s Chicken, Red Lobster, BurgerFi, Tijuana Flats, Roti, Hawkers Asian Street Food, Bucca di Beppo, World of Beer Bar & Kitchen, Tender Greens and Tocaya, Melt Bar & Grill, Rubio’s Coastal Grill, Sticky Fingers, Boxer Ramen, Oberweis Dairy, Foxtrot/Dom’s Kitchen, TGI Fridays, franchisees for Arby’s, Pizza Hut, Applebee’s, and Dickey’s Barbecue Pit, and more.
Contact Alicia Kelso at [email protected]
