Dom's and Foxtrot Closed, Chapter 7 BK
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Dom's and Foxtrot Closed, Chapter 7 BK
Dom's and Foxtrot Markets have abruptly closed permanently.
One handwritten sign left by workers said "not a joke" and "$180,000,000 in the hole."
https://chicago.eater.com/2024/4/23/241 ... ty-closing
One handwritten sign left by workers said "not a joke" and "$180,000,000 in the hole."
https://chicago.eater.com/2024/4/23/241 ... ty-closing
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
Mariano was involved in this. Maybe he was not there anymore at this point in time. Maybe C&S can hire him. Might help their credibility significantly...
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
Typical pedestrian business plan with grade school market research influenced by nebulous hopes and dreams (and some hubris as well).ClownLoach wrote: ↑April 23rd, 2024, 2:37 pm Dom's and Foxtrot Markets have abruptly closed permanently.
One handwritten sign left by workers said "not a joke" and "$180,000,000 in the hole."
https://chicago.eater.com/2024/4/23/241 ... ty-closing
The cocktail that causes small business failure rates close to 99% (no matter the funding).
Stupid!
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
On reddit, a couple of Dom's employees mentioned Mariano looked ill and frail when he would visit prior to the sale to Foxtrot. Others have speculated the sale was precipitated by him being ill.
Regardless, the majority of posts I've seen think Dom's and Foxtrot were not a good match and that Dom's was the healthier of the two companies.
Regardless, the majority of posts I've seen think Dom's and Foxtrot were not a good match and that Dom's was the healthier of the two companies.
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
I never understood why these two things got merged together in the first place. But the above situation likely explains why. Foxtrot I never understood. Dom's I understood.rwsandiego wrote: ↑April 24th, 2024, 8:19 pm On reddit, a couple of Dom's employees mentioned Mariano looked ill and frail when he would visit prior to the sale to Foxtrot. Others have speculated the sale was precipitated by him being ill.
Regardless, the majority of posts I've seen think Dom's and Foxtrot were not a good match and that Dom's was the healthier of the two companies.
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
The merger was engineered by the private equity that was financing their rapid expansion. The Foxtrots in DC generally seemed to do an ok business with the exception of the one near me, which had opened last year. Interestingly, they had just constructed an enclosure for outside seating at that one.
One problem with their model may have been expecting a lot of revenue from delivery--what they sold may have been suited to delivery during COVID to a greater extent than now. They were rather app-centric which makes think that collecting and selling data was part of their model, which also might have underperformed because they'd need a big scale for that to be attractive to other data users. They might have done better with their morning trade except they were almost next door to Slipstream, a local coffee house chain that has established a solid following for itself.
One problem with their model may have been expecting a lot of revenue from delivery--what they sold may have been suited to delivery during COVID to a greater extent than now. They were rather app-centric which makes think that collecting and selling data was part of their model, which also might have underperformed because they'd need a big scale for that to be attractive to other data users. They might have done better with their morning trade except they were almost next door to Slipstream, a local coffee house chain that has established a solid following for itself.
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
Interesting post-mortem on the bankruptcy. A co-founder was the successful bidder for the assets. The banker took their offer which essentially shutout employees, suppliers, etc. who were planning to sue.
https://slate.com/business/2024/05/foxt ... 267dbmbhhz
https://slate.com/business/2024/05/foxt ... 267dbmbhhz
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
One important note about the weird auction is that the article mentioned no offer made for the Dom's side, so I guess those are gone and will not reopen. The Foxtrot side is what was acquired.buckguy wrote: ↑May 21st, 2024, 5:41 am Interesting post-mortem on the bankruptcy. A co-founder was the successful bidder for the assets. The banker took their offer which essentially shutout employees, suppliers, etc. who were planning to sue.
https://slate.com/business/2024/05/foxt ... 267dbmbhhz
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
I guess the co-founder wanted "his" stuff back. But seriously, Dom's seemed more like a small grocery store and Foxtrot a convenience store. Foxtrot's shaky finances aside, the two did not seem like a good match.ClownLoach wrote: ↑May 22nd, 2024, 6:41 amOne important note about the weird auction is that the article mentioned no offer made for the Dom's side, so I guess those are gone and will not reopen. The Foxtrot side is what was acquired.buckguy wrote: ↑May 21st, 2024, 5:41 am Interesting post-mortem on the bankruptcy. A co-founder was the successful bidder for the assets. The banker took their offer which essentially shutout employees, suppliers, etc. who were planning to sue.
https://slate.com/business/2024/05/foxt ... 267dbmbhhz
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Re: Dom's and Foxtrot Closed, Chapter 7 BK
Foxtrot is re-opening small numbers of stores in Chicago, along with Dallas and Austin: https://www.convenience.org/Media/Daily ... oxtrot_Ops