TooJay’s, the popular South Florida-based gourmet deli chain that debuted nearly 40 years ago in Florida, has filed for bankruptcy.
TooJay’s Management, LLC, which has more than 25 deli-styled restaurants in the Sunshine State, has filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Florida.
The paperwork was filed with the court on Wednesday. Companies typically file for Chapter 11 when they plan to remain in operation but need time to restructure debts and develop long-term plans that satisfy creditors.
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In a statement issued today, TooJay’s President and CEO Max Piet said that the decision to voluntarily seek Chapter 11 protection “is the direct result of the devastating economic impact of the COVID-19 pandemic on our restaurants throughout Florida.”
Piet said filing for bankruptcy “will enable us to remain open to serve our communities with the same great food and service we are known for. ... As we learn of the re-opening plans for our dining rooms, we will re-hire more employees and expand our services as restrictions allow.”
TooJay’s reported liabilities from $10 million to $50 million. The filing indicates the company secured a $6.4 million Payment Protection Program loan as part of the CARES ACT recently passed by Congress in response to the COVID-19 crisis.
A declaration filed in support of the bankruptcy petition said prior to the coronavirus pandemic, TooJay’s “businesses were operating profitably and there were plans to expand the chain into additional parts of Florida and the southeast region of the United States.”
In compliance with state-mandated coronavirus-related restrictions that in March ordered all non-essential businesses close — including restaurants’ dine-in services — TooJay’s dining rooms are closed. Takeout, curbside pickup, delivery and catering services continue.
TooJay’s, which maintains its corporate offices in West Palm Beach, has temporarily closed two locations — one at the Polo Club Shoppes in Boca Raton and another at Pembroke Centre in Pembroke Pines, according to Robin Y. Bayless, vice president of marketing.
No decision has been made on other locations, Bayless said in an email.
TooJay’s also offers a groceries-to-go program it launched in response to the coronavirus pandemic, which has devastated businesses throughout the country and caused widespread employee layoffs and furloughs.
After the first TooJay’s debuted in 1981 in Palm Beach in Royal Poinciana Plaza, the company grew steadily. There were more than 10 TooJay’s locations by 1994, when a deal to turn the company into a national franchise fell through, according to news reports.
More recently, TooJay’s embarked on a statewide revitalization of its locations’ interior designs. The redesigns, spread out over a two-year period, were launched in 2016 to “preserve our heritage in a fresh, contemporary setting,” a TooJay’s statement then said.
On Wednesday, Gov. Ron DeSantis announced tiered reopening for the state — which included guidelines for restaurants reopening their dining rooms — but it excludes South Florida, which has the highest number of confirmed COVID-19 cases.
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