SSG Advises Sustainable Restaurant Holdings, Inc. d/b/a Bamboo Sushi in the Sale of Select Assets to an Affiliate of Sortis Holdings, Inc.

SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to Sustainable Restaurant Holdings, Inc. and Subsidiaries d/b/a Bamboo Sushi (“Bamboo Sushi” or the “Company”) in the sale of select assets to an affiliate of Sortis Holdings, Inc. (“Sortis”). The sale was effectuated through a Chapter 11 Subchapter V Plan utilizing a Section 363 process in the U.S. Bankruptcy Court for the District of Delaware. The transaction closed in July 2020.

Based in Portland, Oregon with locations primarily in the Northwest, Bamboo Sushi owns and operates the world’s first certified sustainable sushi restaurants. Bamboo Sushi has received broad acclaim throughout the restaurant industry for its focus on sustainability and deep commitment to environmental and social change through its food. The Company operates with an underlying mission to change the way consumers eat – including transparency in food sourcing, reducing their carbon footprint, and enriching local communities.

Since its founding in 2008, Bamboo Sushi experienced considerable success and growth with attractive unit-level economics. The Company began to implement revenue enhancement and cost saving initiatives, but the COVID-19 outbreak led to the temporary shutdown of dine-in services at all locations. The Company temporarily shifted to a take-out only model at a few locations and significantly reduced corporate overhead and operational costs, but the pandemic’s economic impact ravaged their revenue, profitability, and liquidity.

SSG was retained in May 2020 with a short timeline to find a going concern buyer and avoid a potential liquidation. SSG’s accelerated marketing process attracted significant interest despite several obstacles including the pandemic lockdown and the Company’s lack of liquidity. Sortis, in conjunction with its Sortis Rescue Fund, successfully negotiated a Stalking Horse Agreement and acquired the Company through a Subchapter V Plan sale. SSG’s special situations expertise and significant experience in the food and beverage industry enabled Bamboo Sushi to complete a challenging and expedited transaction that maximized value for all stakeholders.

Sortis Holdings, Inc. is a provider of financial services headquartered in Portland, Oregon. The Sortis Rescue Fund was established to capitalize on the dislocation and market stress in both the real estate and business markets caused by the COVID-19 pandemic and subsequent economic fallout.

Other professionals who worked on the transaction include:

• Pamela B. Corrie, independent director to Sustainable Restaurant Holdings, Inc.;

• Domenic E. Pacitti, Morton R. Branzburg, Michael P. Rittinger, Michael W. Yurkewicz, Justin D. Csik and Danielle Russ of Klehr Harrison Harvey Branzburg LLP, counsel to Sustainable Restaurant Holdings, Inc.;

• David R. Campbell and Will Young of Getzler Henrich & Associates LLC, financial advisor to Sustainable Restaurant Holdings, Inc.;

• Jami B. Nimeroff of Brown McGarry Nimeroff LLC, Subchapter V Trustee;

• Steven N. Serajeddini, Eric Sweigard, Kevin McClelland and Paul W. Anderson of Kirkland & Ellis LLP, counsel to the DIP agent; and

• Patrick A. Jackson, Amelia R. Brett and Joseph A. Field of Faegre Drinker Biddle & Reath LLP, counsel to Sortis Holdings, Inc..