King Street Company (Jacobs & Co., Buca, Bar Buca, La Banane, CXBO) has entered creditor protection.
"Over the course of the March to October period, revenue plunged 98 per cent year-over-year."
The COVID-19 pandemic has forced one of Toronto’s buzziest restaurant groups into creditor protection.
www.bnnbloomberg.ca
Plans included a massive 40,000 square foot project at Yonge and Bloor
trnto.com
They had big expansion plans (from trnto article):
- Buca St Clair: Buca has plans to move up the middle of Toronto and first opened at Yonge and Eglinton. The Buca St. Clair location was next up, and, according to the court filings, was “planned to be approximately six thousand and one hundred (6,100) square foot and one hundred twenty (120) seat capacity Italian family-style restaurant. Construction of this restaurant was substantially completed in March of 2020. Although it has not formally opened, this restaurant is currently being used to run part of the KSF Group’s takeout business.”
- Buca Vaughan: The Buca expansion was planned to continue right up to Vaughan and a new 5,600-square-foot Buca restaurant and Bar Buca “planned to be opened in Vaughan as part of a broader mixed use planned community.” According to filings, construction has advanced on this project to date.
- Man Ray Bar a Vin: Planned to open above the very popular La Banane restaurant helmed by chef Brandon Olsen, Man Ray Bar a Vin is described as “an approximately two thousand and seven hundred (2,700) square foot private dining, event space and cocktail bar.” According to filings, the project is substantially complete and was “weeks away from opening when the COVID-19 Pandemic hit.” Ouch.
- KSF Commissary: This massive project was scheduled to be opening in the newly developed Globe and Mail Centre and would have clocked in at more than 10,000 square feet.
- KSF at CIBC Square: Another major restaurant project, the KSF at the CIBC Square is planned to be an approximately 13,000 square feet restaurant in a new commercial office tower that is currently under construction in the Financial District.
- KSF at the PH: The Park Hyatt hotel was destined to be the location of KSF at the PH, a 12,000-square-foot Japanese restaurant.
- KSF at The One: This one is massive. KSF at The One is described as “an approximately forty thousand and three hundred (40,300) square foot restaurant, café and event space planned to be opened as part of the One Bloor West condominium and hotel development.”