The closures follow the exit of private equity firm KarpReilly, which had invested at least $5.6 million in Taylor Gourmet in 2015, from the business.
There was no change of heart, no billionaire to make a last-minute save. Taylor Gourmet is cooked.
By Sunday, the Philly-style hoagie and cheesesteak chain had shuttered all stores — 10 in D.C., four in Northern Virginia, three in suburban Maryland and two in Chicago. On Saturday night, a handwritten sign was taped to the window of the Taylor Gourmet at The Wharf: “WE ARE CLOSED.”
The closures follow the exit of private equity firm KarpReilly, which had invested at least $5.6 million in Taylor Gourmet in 2015, from the business. A Chapter 7 bankruptcy filing is imminent, per reports. The WBJ has already heard from one broker who claims to have a restaurant operator interested in buying Taylor Gourmet assets, including lease assumptions.
The specific reasons for Taylor Gourmet’s abrupt end are unclear, but theories abound. Perhaps it was owner Casey Patton’s meeting with Donald Trump in early 2017 that drove customers away, or it grew too fast and beyond its means, or its restaurants…