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Corner Bakery Café declares Chapter 11 bankruptcyCorner Bakery Café declares Chapter 11 bankruptcy

Roark Capital Group sold the Dallas-based fast-casual restaurant brand to Pandya Restaurant Growth Brands LLC in 2020

Joanna Fantozzi, Senior Editor

February 24, 2023

1 Min Read
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Joanna Fantozzi

The Dallas-based fast-casual bakery-café chain, Corner Bakery Café, has declared Chapter 11 bankruptcy with estimated assets and liabilities both between $10 million and $50 million, according to documents filed in the Delaware Bankruptcy Court on Feb. 22.

Corner Bakery Cafe ended 2021 with 172 locations — up six stores from the year prior when Roark Capital Group sold the struggling fast-casual chain to Pandya Restaurant Growth Brands in Oct. 2020, after being a Roark subsidiary since 2011. Pandya is no stranger to trying to turn around struggling brands, as the restaurant investment group owned by Jignesh Pandya of Bucks County, Pa. had also purchased Boston Market in April 2020.

“Our acquisition of Corner Bakery aligns with what we believe families are seeking — high-quality kitchen-crafted food and good, consistent customer service,” Pandya said during the time of acquisition in a statement.

Corner Bakery Café ranked 118th in sales in 2021, according to the top 500 restaurants data from Datassential, down eight spots from 2020.

Corner Bakery has stores in 23 states and Washington, D.C.

Contact Joanna at [email protected]

About the Author

Joanna Fantozzi

Senior Editor

Joanna Fantozzi is a Senior Editor for Nation’s Restaurant News and Restaurant Hospitality. She has more than seven years of experience writing about the restaurant and hospitality industry. Her editorial coverage ranges from profiles of independent restaurants around the country to breaking news and insights into some of the biggest brands in food and beverage, including Starbucks, Domino’s, and Papa John’s.  

Joanna holds a bachelor’s degree in English literature and creative writing from The College of New Jersey and a master’s degree in arts and culture journalism from the Craig Newmark Graduate School of Journalism at CUNY. Prior to joining Informa’s Restaurants and Food Group in 2018, she was a freelance food, culture, and lifestyle writer, and has previously held editorial positions at Insider (formerly known as Business Insider) and The Daily Meal. Joanna’s work can also be found in The New York Times, Forbes, Vice, The New York Daily News, and Parents Magazine. 

Her areas of expertise include restaurant industry news, restaurant operator solutions and innovations, and political/cultural issues.

Joanna Fantozzi has been a moderator and event facilitator at both Informa’s MUFSO and Restaurants Rise industry events. 

Joanna Fantozzi’s experience:

Senior Editor, Informa Restaurant & Food Group (August 2021-present)

Associate Editor, Informa Restaurant & Food Group (July 2019-August 2021)

Assistant Editor, Informa Restaurant & Food Group (Oct. 2018-July 2019)

Freelance Food & Lifestyle Reporter (Feb. 2018-Oct. 2018)

Food & Lifestyle Reporter, Insider (June 2017-Feb. 2018)

News Editor, The Daily Meal (Jan. 2014- June 2017)

Staff Reporter, Straus News (Jan. 2013-Dec. 2013)

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