By Sharon Aron Baron
Fans of Too Jay’s Deli in Coral Springs won’t have to quit cold turkey after the restaurant announced they successfully emerged from Chapter 11 bankruptcy protection.
Last April, the restaurant filed for bankruptcy reorganization. This restructuring process allowed TooJay’s 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.
TooJay’s CEO Maxwell Piet said that for 39 years, TooJay’s has been an iconic, well-recognized brand serving many Florida communities. Before 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,” she said.
With 21 locations, the Coral Springs TooJay’s, located at The Walk, has a loyal customer base with a proven track record of success.
Jason Perlow, of Coral Springs, who runs a Facebook food discussion group, said the emergence of Too Jay’s from bankruptcy is a positive note that the company will continue to exist — but he doesn’t believe they are out of the woods yet. Jewish-style Deli was already a food genre that was in decline in Florida due to its older leaning customer base. Those people are now fearful of dining in public, and other delis in the South Florida area have been facing similar challenges and are threatened with closure for those reasons.
“They will need to make changes to their business model and operations towards more of a takeout business and potentially downsize their locations to adapt to changes in dining behavior as a result of the new reality of life during and after the pandemic,” he said.
Coral Springs resident Rhonda Perry was happy Too Jay’s was out of bankruptcy and would continue business at The Walk.
“Their food and service is excellent and never disappoints. Will continue to support them.”
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