BOSTON, May 11, 2017 (GLOBE NEWSWIRE) -- Così, Inc., the fast-casual restaurant company, today announced that its Chapter 11 First Amended Joint Plan of Reorganization, which was confirmed by the United States Bankruptcy Court for the District of Massachusetts (Eastern Division) on April 25, 2017, has gone effective on May 10, 2017, and the Company has emerged from bankruptcy as a private company. The new restructured entity is now owned by MILFAM II L.P., AB Value Partners, LP, AB Value Management LLC and AB Opportunity Fund LLC.
“We have an energized team, a much stronger capital structure and a solid base of restaurants,” declared Vicki Baue, the Company’s Vice President. “A number of initiatives are underway, with a focus on delivering outstanding guest experiences and improving quality and execution,” Ms. Baue went on to say.
“We would like to thank all of our customers, employees, franchisees and vendors who continued to be a part of Cosi through this phase, and we are excited about this next chapter of Cosi history,” stated Ms. Baue.
About Così, Inc.
Così (http://www.getcosi.com) is an international fast casual restaurant company. At the heart of every Cosi® restaurant is an open-flame stone-hearth oven where the Così® signature flatbread is made from scratch throughout the day. The flatbread is made from a generations-old recipe and is part of many Così® favorites. Così® was founded on the idea that good-for-you food should be delicious. Menu items are made using fresh ingredients and distinctive sauces and spreads to create edgy flavors. The menu features made-to-order sandwiches, hand-tossed salads, bowls, breakfast wraps, melts, soups, signature Squagels®, artisan flatbread pizzas, S`mores, snacks and desserts. Guests can also enjoy handcrafted beverages and a variety of coffee-based and specialty beverages.
Così® employees create a welcoming environment where guests are invited to relax and enjoy great food. In many cases, Così® is the cornerstone of the communities that they are in and take pride in supporting community organizations and local charities. There are currently 43 Company-owned and 30 franchise restaurants operating in fourteen states, the District of Columbia, Costa Rica and the United Arab Emirates.
"Così," "(Sun & Moon Design)" and related marks are registered trademarks of Così, Inc. in the U.S.A. and certain other countries. Copyright © 2017 Così, Inc. All rights reserved.
Additional information is available on Così's website at
http://www.getcosi.com in the investor relations section.
CONTACT: Vicki Baue VP & GC, CCO 857.415.5030 InvestorRelations@getcosi.com
Source: Cosi, Inc