The parent company for seafood chains Bamboo Sushi and QuickFish yesterday filed for federal bankruptcy protection, blaming the coronavirus shutdown for limiting its ability to generate revenue or get financing to make it through the crisis, <em>Restaurant Business</em> reported. Sustainable Restaurant Holdings (SRH) has received $1.9 million in financing from existing investors, including Bain Capital Double Impact Fund, to make it through the restructuring. The company has also launched a sale process. “We are facing the same challenges as many other consumer-backed businesses, especially those in the restaurant industry,” Matthew Park, president and interim CEO of SRH, said in a statement. “In this environment, we simply are not able to generate sufficient revenue to meet our day-to-day and long-term obligations.” Portland, Ore.-based Sustainable was founded in 2008 with the launch of Bamboo Sushi, a sustainable sushi chain. Eight years later, it added quick-service poke chain QuickFish. The company in 2018 received early-stage capital from Bain and Kitchen Fund, when it had six locations. The company currently operates 10 restaurants. According to a bankruptcy court filing, SRH has just over $4 million in various unsecured debt.
