Report: 100 Montaditos Files for Bankruptcy, NYC Expansion Halted
This image has been archived or removed.
Suddenly the epic failure of 100 Montaditos on Ludlow Street back in December now makes more sense. Reports surfaced last week that the corporate parent of stateside operations went belly up, and is filing for Chapter 11 bankruptcy protection in Florida courts.
The legal proceedings put a halt to the aggressive expansion plans the Spanish-based “fast casual” chain had cooked up. Namely, an additional 29 locations citywide.
This bankruptcy filing apparently has little bearing on company operations in its homeland, though, where some three hundred locations are flourishing.
Meanwhile, the franchise owner at 177 Ludlow had previously threatened to return with a new “upscale concept.” No word just yet on whether this will actually happen, but Community Board 3 will likely continue its stand against full liquor at this address.
100 Montaditos lasted a paltry three months on the block, and tried to strong arm a full liquor license, but only made out with beer and wine. The franchise spent more than a year building the joint and dealing with booze before finally opening this past August. It was another establishment in the longstanding trend of spending more time on the build-out than in business.
177 Ludlow is owned by controversial landlord Samy Mahfar, who purchased the property in September 2012.