West Palm Beach, FL (RestaurantNews.com) TooJay’s Deli, (“the Company”), today announced that it has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing its Chapter 11 reorganization plan.
The restructuring process allowed the Company to emerge debt free, which it believes will provide significant financial flexibility to support its operations. The Company’s new owner, Monroe Capital, is providing capital to support growth in the business going forward.
“For 39 years, TooJay’s has been an iconic, well-recognized brand serving many Florida communities. Prior to COVID-19, the Company’s revenue was ahead of last year, but the pandemic’s impact created difficulty for many industries. We want to thank our team members and guests for their support during this time. Our locations are open and continue to serve our communities, and we look forward to the future,” said TooJay’s CEO Maxwell Piet.
TooJay’s has an iconic brand supported by a loyal customer base and maintains a solid foundation of core locations with a proven track record of success. In addition to offering multi-daypart in-restaurant dining, TooJay’s is a leader in off-premise channel offerings including curbside takeout, delivery, and a strong catering program. While the COVID-19 pandemic presented many challenges for the restaurant industry, TooJay’s locations have safely remained open in accordance with CDC, federal, state and local guidelines. TooJay’s has a history of operational excellence bolstered by a compelling store footprint, which has positioned the Company exceptionally well to pursue a path of long-term profitability and growth in a post-COVID world.
About Monroe Capital
Monroe Capital LLC (“Monroe”) is an asset management firm specializing in direct lending, equity co-investments and opportunistic private credit investing. Since 2004, the firm has provided private credit and equity co-investment solutions to borrowers in the U.S. and Canada. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by Creditflux as the 2020 Best US Direct Lending Fund; Global M&A Network as the 2020 Small Middle Markets Lender of the Year; Private Debt Investor as the 2018 Lower Mid-Market Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit www.monroecap.com.
Founded in 1981, TooJay’s now serves guests in Palm Beach and Broward counties, the Treasure Coast, the Orlando area and The Villages. Famous for piled high sandwiches, homemade comfort food and made-from-scratch soups, salads and baked goods, TooJay’s remains true to the passion of creating authentic deli fare served with amazing hospitality.
TooJay’s received three Palm Beach Post 2020 Best of Palm Beach County Awards for Best Sandwich, Best Dessert and Best Caterer; 2020 Best of Orlando Award for Deli; 2020 South Florida Family Favorites Award for Favorite Family Restaurant and the 2019 Restaurant Neighbor Award as a State Winner from the National Restaurant Association Educational Foundation for its work with Feeding Florida.
For more information about TooJay’s, visit TooJays.com.
Pierson Grant Public Relations