Many people have a soft spot for Shari’s because it is a beloved family restaurant. However, recent reports about its future have worried loyal customers. We want to answer everyone’s question: Is Shari’s Going Out Of Business?
Shari’s, a popular food chain, is facing financial challenges but is not going out of business. MGG Investment Group has invested in the restaurant, which could help it recover. Despite the potential closure, Shari’s is still working on its beloved cakes and home-cooked meals, indicating a promising future.
We’ll get down to the facts and give you a look at the situation from the inside. Our easy-to-understand tone and straightforward language will help you navigate this potentially upsetting subject and figure out what’s happening with one of your favorite restaurants, Is Shari’s Going Out Of Business?
Let’s find out the truth together!
Table of Contents
An Overview Of Shari’s
Shari’s Cafe & Pies is a group of western US places that are good for families. The main building is in Beaverton, Oregon. It was known as Shari’s Restaurants before. These places are all about pies! It began in 1978 in Hermiston, Oregon, with the first one. This company had about 95 locations by 2017.
As of June 2024, they have 72 sites in California, Idaho, Oregon, Washington, and Wyoming. Shari’s restaurants have cool hexagonal houses that may help you find them. The business has a long history.
Ron and Sharon Bergquist started it, sold it in 1999, and then changed hands a few more times. They even had to deal with the law in the middle of the 2000s. In 2009, Shari’s also grew by buying some restaurants in Baker’s Square. They used to have stores in Arizona, Colorado, Utah, and Texas, but they shut down those places a while ago.
Shari’s Management Corporation runs things now. They’re known for being open 24 hours a day, seven days a week, and serving tasty specialty pies. There have been different CEOs over the years. In 2017, Samuel Borgese took over as CEO.
They closed their only store in Nebraska in July 2023. In 2018, they added Carrows and Coco’s Bakery to their list.
Is Shari’s Going Out Of Business?
Although some shops have shut down, Shari’s is still in business. Walla Walla, Kennewick, and Union Gap stores have closed like many other companies worldwide. This is primarily because of the COVID-19 plague, which has caused them to lose money.
But it’s important to know that Shari’s is still going. The company is working to improve its surviving stores, especially the ones in Oregon. Gather Holdings LLC has invested a lot of money in Shari’s, which shows that they care about the brand’s success. With help from MGG Investment Group LP, Shari’s could stay open.
Shari’s is still going strong, even though some shops have closed. Its main goal is to improve, strengthen its remaining businesses, and keep its loyal customers happy.
Financial Difficulties Faced By Shari’s
The last few months could have been better for Shari’s Restaurants. In the previous five years, sales at their restaurants have decreased by about 21%, which could be better. Things got even worse when the pandemic hit, and businesses had to close, adding to the stress of paying for everything.
But wait—there’s good news coming through the clouds! The MGG Investment Group invested in 42 Shari’s restaurants in Oregon. In light of the COVID-19 mess, that’s a good sign that things might start to get better.
And it’s not just MGG who is working hard. Shari’s Management Corporation is also getting ready to work. Behind the scenes, they’ve rearranged things to save money and adapt to the changing food business.
Plus, they’ve added some new people to the top, like a new Chief Financial Officer, who is ready to lead the ship of better fortune. Even though things have been rough, it looks like Shari is on the way to better times!
Current Status Of Shari’s
These days, Shari’s businesses have had some ups and downs. Some places have had to close, like the one in Kennewick, which many people were shocked about because it had been open for over 40 years.
It made people think of the time the Richland site closed with only 72 hours notice for the staff. Hey, it’s not all bad news! Things are getting better at Shari’s.
They’re making their reward program more fun so you can use your collected points. Also, some places are still open, like the one in Sacramento, and offer pickup and delivery while ensuring everything is clean and safe.
Who Bought Shari’s Restaurant?
You may remember Shari’s Restaurants. Those cozy spots that pie lovers and breakfast lovers love? In December 2005, they caught the attention of Circle Peak Capital, a private equity company based in New York City. We bought them.
Now, let’s go back to not too long ago: the MGG Investment Group decided to buy 42 Shari’s businesses across Oregon. Why? They want to help these restaurants regain their feet after the COVID-19 outbreak hurt their finances.
It’s important to note that these investments aren’t meant to take over the whole chain but to help the current processes.
Conclusion: Is Shari’s Going Out Of Business
Finally, Shari’s Restaurants has had problems, like closing down and having money problems, but it still needs to go out of business.
The latest investment from MGG Investment Group and the work of Shari’s Management Corporation show that the company wants to bring the brand back to life.
Some stores have closed, but work is still being done to improve customers’ experiences at the still-open stores.
With help from investors and changes to its business plan, Shari’s is ready to get through the rough spots and come out stronger. This will ensure that its tradition of serving delicious home-cooked meals and famous pies lives on for years.
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FAQ
Who Bought Shari’s Restaurant?
Gather Holdings, LLC, the parent company of Shari’s and Coco’s stores, stated that MGG Investment Group affiliates invested in 42 of its systemwide 85 Shari’s stores in Oregon.
Is Shari’s A National Chain?
Shari’s Cafes is now the biggest family-style chain in the northwest, with 95 locations in six states. It has over 4,000 happy workers and a lot more happy customers.
How Many Locations Does Shari’s Restaurant Have?
Shari’s is open in 95 places in OR, WA, ID, CA, WY, and NE to serve you. Each Shari’s Bar and Grill serves more than 50,000 cups of Arosta Coffee every year and breaks more than 4,000 dozen eggs every year.
Who is the CEO of Shari’s?
Samuel N. Borgese started Gather Holdings, LLC, and is its President and CEO. Gather Holdings, LLC owns Shari’s CP, LLC, and Shari’s Management Corporation shares.
What is Shari’s revenue?
Shari’s Cafe and Pies makes $97.6 million a year.
