Las Vegas restaurateur Billy Richardson bought the Elephant Bar chain after the bankruptcy.
Richardson, founder of Gen3 Hospitality, operates The Barrymore, Flour & Barley, Haute Doggery and other restaurants. His latest addition has a District location at Green Valley Ranch in Henderson, with one in New Mexico and five in California.
Elephant Bar filed for Chapter 11 protection in October in U.S. bankruptcy court in Las Vegas. The chain also went bankrupt in 2014, albeit under different owners, and the number of its restaurants has declined significantly in recent years.
Richardson finalized the purchase about a month ago. His group did not disclose the terms.
In a telephone interview on Tuesday, he said Elephant Bar is profitable and has no plans to close or open locations.
But he plans “a little refresh,” including new fabrics, wall coverings and paint, he said.
There are no plans to change the name or menu of the restaurant chain, which includes pistachio-crusted salmon salad, shrimp and chicken jambalaya, caramelized pears and a gorgonzola burger, and desserts such as the “sticky butter cake”.
“It’s a place where everyone can go. That’s what I love about the business, ”said Richardson.
He also blamed his earlier woes on growing too fast, noting that “it was like anything” before the recession hit: rapid expansion was followed by the worst economic crisis in decades.
“They opened too many (locations) at once and just couldn’t handle it,” he said.
Elephant Bar had 45 locations shortly before its bankruptcy in 2014 under then-owner SB Restaurant Co. of Costa Mesa, Calif.
Dallas-based Chalak Mitra Group later acquired the channel, and court records show New York businessman Barry Kasoff recovered it last May.
But five months later, Kasoff – whose online biography describes him as an “expert in turnaround management” – pushed Elephant Bar into bankruptcy.