September 14, 2020
Bakery chain Maison Kayser’s U.S. operator, Cosmoledo LLC, filed for Chapter 11 protection in Manhattan, with plans to be acquired by a New York food franchiser that runs bread, burger and salad shops. Aurify Brands, acting through affiliate companies, will pay $3 million in cash and agree to cancel Cosmoledo debt it’s holding.
The original Maison Kayser opened in Paris in 1996, while the first American location opened in 2012 on Manhattan’s Upper East Side.
Headquartered in Midtown South, Cosmoledo told the court it suffered setbacks in prior years from an ill-fated national expansion plan. The company had nearly completed plans to restructure its balance sheet and close underperforming stores when the pandemic hit. Its stores never reopened.
Among Aurify’s best-known brands are the New York outlets of the Five Guys burger chain and the U.S. operation of Le Pain Quotidien, which it acquired out of bankruptcy earlier this year.
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