Store Closures and Restructuring Plans
Once boasting 24 locations across Texas, North Carolina, and Oklahoma, Razzoo’s has already shuttered four underperforming restaurants, leaving 20 still open for business. Management says Chapter 11 will give the chain the breathing room to restructure finances, preserve jobs, and even prepare for future expansion across the Southeast.
“The debtors commenced these voluntary Chapter 11 cases to effectuate the sale or financing transactions that will be necessary to reorganize their financial affairs, preserve thousands of jobs, and ensure that Razzoo’s continues providing guests with the highest quality Cajun cuisine and hospitality,” said attorney Matthew Okin of Okin Adams Bartlett Curry LLP, representing the chain.
Lifeline From DIP Financing
To keep the gumbo simmering during bankruptcy, Razzoo’s has lined up a lifeline from TJF Financial LLC, which has agreed to provide a $4 million debtor-in-possession loan facility. The company is seeking court approval to access the funds as it navigates its restructuring.
Founded in 1991, Razzoo’s grew steadily through the 1990s and 2000s, capitalizing on its Cajun-inspired menu and raucous brand identity. Its case has now landed before U.S. Bankruptcy Judge Alfredo R. Perez, with a first-day hearing scheduled for Oct. 3.
A spokesperson for Razzoo’s did not immediately respond to requests for comment Thursday.
