A restaurant management company focused on distressed and often very difficult turnarounds.
Food Management Partners (FMP) has long been an owner, franchisee and, on numerous occasions, has been retained by outside companies to help salvage troubled brands. We then invest our knowledge, management expertise, and various resources towards making those brands more efficient, more profitable, and well-suited for growth and expansion.
In many instances the situations are more dire than expected, and the damage too severe for an effective turnaround. These severe cases call for immediate action to preserve any tangible value and save jobs that are important for the communities in which we operate. Unfortunately, this sometimes involves closing some restaurants so the overall brand can survive and hopefully thrive and grow in the future. A good example is the Catalina Restaurant Group, which we acquired while it was dealing with severe financial and operational struggles. In this case, some restaurants closed and yes, jobs were lost, but countless other jobs were saved by our devotion to people and demonstrated management expertise in dealing with worse-case scenarios. We were able to help turn it around so that it could be positioned for the growth it is experiencing today.
Sadly, Curry House had an unimaginable employment situation that included a workforce comprised of nearly 75% of undocumented workers. Since we abide by the letter of the law, after our assessments proved that employees were working who were not legally authorized to be employed in California, the correct and only viable action under state and federal law was to recommend closing of the restaurants until legal workers could be hired and trained. In the several weeks of those closures, guests went elsewhere, and the brand lost its momentum, making it impossible for the restaurants to remain open.
We have had many successful outcomes that resulted in the saving of jobs and growing business value. In fact, we don’t enter into a business relationship if we don’t think we can accomplish the primary goals of saving jobs and returning the brand to health.
It is human nature to disparage the nature of something when one doesn’t possess all the facts that lead to unpopular decisions having to be made. FMP has at times, been tasked with finding a sustainable solution to sometimes seemingly insurmountable problems, and in most cases FMP’s unwavering commitment to people and operations have saved many jobs and restored financial viability to troubled companies.
--Larry F. Harris
Food Management Partners, Inc.
Catalina Restaurant Group