News

Actions

HopCat out of bankruptcy, under new ownership

WXMI_Default-Image_1280x720.png
Posted at 5:38 PM, Oct 27, 2020
and last updated 2020-10-27 17:42:53-04

GRAND RAPIDS, Mich. — HopCat will be operated under new ownership after filing for bankruptcy earlier this year.

We're told BarFly Ventures, the Grand Rapids-based company that previously owned the restaurant, sold the chain to Congruent Investment Partners and Main Street Capital for $17.5 million.

“We know the business extremely well from our experiences over the last five years,” says Travis Baldwin, founder of Congruent Investment Partners. “We strongly believe in each restaurant concept and intend to return the company’s focus to providing a unique, best-in-class customer experience.”

Project BarFly CEO Ned Lidvall says HopCat will be in good hands under the new company. “We think it’s a great fit for the company,” he says, “and the energy and collaboration they bring will only enhance our recovery and growth.”