Giordano’s Bankruptcy Case Study
April 18, 2012 · 5:30 pm
Case Study: Giordano’s Bankruptcy
Wednesday, April 18, 2012
5:30 p.m. — 7:30 p.m.
at Levenfeld Pearlstein, LLC
2 N. LaSalle, Suite 1300, Chicago
REIA Members $25 – Members ONLY
Limited seating – maximum 60 people
Once acclaimed to be “Best Pizza in America” by NBC-TV’s Today Show and “The Ultimate Pizza” by The New York Times, Giordano’s is regarded by many as the heart and soul of Chicago-style pizza. In 2011, Giordano’s Enterprises, LLC, filed for bankruptcy after defaulting on loans of approximately $45.5 million.
Giordano’s assets included five company-owned restaurants, five joint-venture locations, franchise agreements for 40 locations, Giordano’s intellectual property, and 20 parcels of real estate associated with corporate and franchised restaurants. At the auction late in 2011, were 14 qualified bidders, including an investor group led by Chicago-based private-equity firm Victory Park Capital, which acquired the operating company and Giordano’s prize real estate asset at 740 N. Rush Street. Most of the remaining real estate portfolio was acquired by Origin Capital Partners, also Chicago-based.
Join REIA in a lively discussion about the bankruptcy process and the animated auction with those that were directly involved. Come with questions!
Moderator: Navin Nagrani, Hilco Real Estate and REIA Director
Speakers: Michael Episcope, Origin Capital Partners
Chad Peterson, Victory Park Capital
Eric Prezant, Bryan Cave LLP
Jeff Tischler, Fifth Third Bank
Thank you for supporting our 2012 Sponsors & Patrons
Patrons: Aries Capital LLC • Cray Kaiser, Ltd. • Bryan Cave, LLP • Mauge, Inc. • American Road Maintenance • Levenfeld Pearlstein LLC • Baker Tilly Virchow Krause, LLP • Ginsberg Jacobs LLC • Lend Lease • Pathway Senior Living, LLC • Schwartz Brothers Insurance Agency • Chicago Title Insurance Company • Cevaal Insurance Agency, Inc. • Colliers International • Leopardo Companies Inc. • McGladrey & Pullen LLP