With a nearly complete CCAA restructure, Donnelly Group sets sights on the growth of Sing Sing brand
As the hospitality company nears its financial restructuring finish line, it also readies to open two independently-funded Sing Sing Beer Bar locations
VANCOUVER, BC, April 2, 2024 /CNW/ - In February Donnelly Group CCAA petitioners were granted a B.C. Supreme Court order for a stay extension to June 30, 2024 as well as an update to its Initial Order permitting for the group "to dispose of redundant or non-material assets not exceeding $750,000 in any one transaction or $3,000,000 in the aggregate."
The group has already finalized the sale of a number of its assets including Death & Taxes and Hello Goodbye, all with impending closing dates and proceeds going to secured creditors. It is considering several other sales in advance of an anticipated late-Spring exit from CCAA.
"These are all high-quality, beloved locations and although we'll miss their community, each will be better served with new ownership," says Harrison Stoker, Donnelly Group's Chief Growth Officer. "We have a renewed strategic vision, as well as a commitment to our staff and guests to exit CCAA and shift full focus back onto our passion for hospitality."
Perhaps the clearest gesture of its renewed vision is the group's hospitality arm, Freehouse Collective, announcing the imminent opening of two Sing Sing Beer Bar locations. A Toronto outpost will open in First Canadian Place on 77 Adelaide, while a second Vancouver location will open on Time Out's recently dubbed "Coolest Streets in the World" at 1191 Commercial Dr.
"Recognizing that this news may read as a contradiction, our relentless focus and 'shrink to grow' mindset over the last year is setting up to pay off," says Stoker. "Sing Sing is a fan favourite, so we're excited to have new partners and communities to house the brand."
Sing Sing's original location on Vancouver's Main Street is known for its irreverent mix of pizza, pho, beer, cocktails and other creature comforts in a modern space. Its new locations will open with the addition of weekend brunch, a rotating natural and organic wine program, and freshly fashioned happy hour.
Donnelly Group is a hospitality management company born of publican DNA that operates a diverse portfolio of brands. Each unique, but with a shared culture driven by a collective affinity for meaningful, thought and conversation provoking topics influenced by design, music, art, sports, and travel.
Its core portfolio consists of Freehouse Collective, a group of iconic public houses, cocktail clubs and restaurants in Vancouver and Toronto, Barber & Co barber shops and products, and Bomber Brewing.
For more information, please visit freehouse.co
SOURCE Donnelly Group
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