New York, October 6, 2020 – Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, today announced the completion of their assignment as out-of-court Chief Restructuring Advisor and in-court Chief Restructuring Officer to Bar Louie Restaurant Operations, LLC (“Bar Louie”), a national gastro-bar operator and franchisor.

As Chief Restructuring Advisor, Carl Marks Advisors assisted Bar Louie in securing bridge funding, oversaw cash flow and helped the Company prepare for a potential Chapter 11 bankruptcy filing required to facilitate a sale. The firm also led Bar Louie through the filing and successful emergence from bankruptcy as Chief Restructuring Officer and in an overall strategic financial restructuring of the business.

During the COVID-19 pandemic, Carl Marks Advisors has taken extra steps to ensure Bar Louie was able to maintain sufficient liquidity through various state mandated shutdowns. The firm was able to secure additional bridge funding so Bar Louie could continue operating and implemented emergency initiatives to offset lost revenue.

“We’re extremely pleased with the outcomes from our work with Bar Louie, and believe the Company has a strong future,” said Howard Meitiner, Managing Director at Carl Marks Advisors. “Having emerged successfully from bankruptcy, Bar Louie can now focus on thoughtful, smart revenue growth that will allow them not only to weather the current pandemic, but strongly position the business when restaurant dining returns to pre-COVID levels.”

“The team from Carl Marks Advisors provided support and thoughtful guidance before, during and after the bankruptcy process, and played an important role in keeping the various constituents aligned around our goals,” stated Tom Fricke, CEO of Bar Louie. “Their experience with restructuring and the restaurant sector was invaluable, especially as we managed through the COVID-19 pandemic as well as the Chapter 11 process.”

Bar Louie filed for Chapter 11 bankruptcy on January 27, 2020. It was successfully sold to BLH Acquisition Co., LLC, pursuant to Section 363 of the U.S. Bankruptcy Code on May 27th, 2020, during the height of the Coronavirus pandemic.