Square 1 bankrupt

[Chatbrat]

Looks like Square 1 is going out of business --the company has filed for bankruptcy protection--this is a signal for all future restaurants who has to rely on burgers as their mainstay--

[DeanFL]

darn, just checked the article in Orl Sentinel:
---------------------------

In its bankruptcy filing, Square 1 blamed the financial troubles on an over-saturated restaurant market.

“Unfortunately, between 2014 and 2016, a number of restaurant franchises flooded the market saturating the areas around Square One’s restaurant with a litany of dining options,” court documents said. “When the competition settled in, Square One struggled to breakeven and quickly fell behind with its creditors.”
Square 1 closed in Winter Park in May after being ordered to leave after allegedly owing about $21,000 in back rent, according to court documents.
Winter Park landlord Andre Raab said the burger restaurant “left in the dark of night.” Square 1 also recently closed a location in Sarasota, according to the Sarasota Herald-Tribune. Square 1 Burgers kicked out of Winter Park restaurant space »

Square 1 has eight locations left and the company filed for bankruptcy on all eight individually.

A representative for Square 1 Burgers did not return a phone call or email Monday afternoon. The company’ s lawyer, Scott Shuker, said there are separate filings because each restaurant is an individual limited liability corporation.

Square 1 was founded by Tampa restaurateur Bill Shumate and partner Joanie Corneil, along with Ray Leich. Schumate and Corneil also own Bella’s Italian Cafe in Tampa’s Hyde Park.

-----------------------------------
We live 5 min from Sq One here, and so there every other week or so. The BEST burgers...and onion rings. We have noticed declining business there, esp since since snowbirds flew.

darn - and employees.... hopefully a good place will take over...

[Challenger]

Oh no! Its the "Developer's " fault. The rent was too high. A neighbor who has a daughter, who knows the guy who collects the garbage in the neighborhood where a waitress at Square 1 works told me.

[DeanFL]

Oh no! Its the "Developer's " fault. The rent was too high. A neighbor who has a daughter, who knows the guy who collects the garbage in the neighborhood where a waitress at Square 1 works told me.

-------------

wow - small world.

A guy we met told us the culprit was the Developer's greed too. This guy's gardener heard it from his girlfriend who heard it from her hairdresser who heard it from the UPS guy from Orlando who heard it from a gardener who does work in the Villages. So it MUST be true.

And the other Sq1 locations in FL going Chapter 11 - a coincidence.

[dewilson58]

Square 1 went to the dogs.



:22yikes:

[Chatbrat]

We went there once or twice-- you can only do so much with a burger and their premium booze prices were ridiculous-- the bar persons were embarrassed when they gave us the tab--also, their location in TV was the kiss of death --if they had gotten the location where Five Guys is in Brownwood, they might have had a fighting chance--very little tourist traffic

[raynan]

It's a corporate financial problem not their Villages location when they're closing all those other locations. Instead of all these burger places I wish we'd get another seafood place.
Lighthouse is always crowded. Legal Seafood, where are you? Please come here.

[karostay]

I guess pets on the Patio wasn't such a strong market after all..
Stopped me from eating there.

[DonH57]

It's a corporate financial problem not their Villages location when they're closing all those other locations. Instead of all these burger places I wish we'd get another seafood place.
Lighthouse is always crowded. Legal Seafood, where are you? Please come here.

Both my wife and I would like to see Legal Seafood come here as well but I doubt you'd see them in the villages.

[golf2140]

I guess pets on the Patio wasn't such a strong market after all..
Stopped me from eating there.

:bigbow::bigbow::bigbow:

[rubicon]

you know an enterprising guy could make a good living making bets on how long a restaurant would remain viable in this area

[Aloha1]

It's a corporate financial problem not their Villages location when they're closing all those other locations. Instead of all these burger places I wish we'd get another seafood place.
Lighthouse is always crowded. Legal Seafood, where are you? Please come here.

Second!

[mixsonci]

I did love their burgers, however, the place always looked dark, dingy and "dirty" to me, not a pleasing atmosphere at all.

[DonH57]

you know an enterprising guy could make a good living making bets on how long a restaurant would remain viable in this area

Yea, really. Make bets on how long they last !

[DeanFL]

Just called the Sq 1 TV location - asked the mgr:

me> "Gee, heard about the bad news - are you gonna be open tomorrow?"

Sq1> "What bad news?"

Me> "About the bankruptcy and closure"

Sq1> "It's a reorganization and only affects Tampa".

Me> "Oh great - we love your burgers and rings" Will stop by tomorrow"

Sq1> "Super, thanks - See you then!".


We plan to go there - hopefully NOT for our last visit...

[tagjr1]

What a crock ! Every time we went to Square One it was packed. Something else must have torpedoed their business, like maybe poor management.

[JoMar]

Square 1 went to the dogs.



:22yikes:

As long as they weren't serving them :)

[daveczo]

Pets on the patio had nothing to do with it. It is a great attraction at many restaurants. If dogs bother you more than loud old people, you are the problem.

[dewilson58]

Pets on the patio had nothing to do with it. It is a great attraction at many restaurants. If dogs bother you more than loud old people, you are the problem.

Oh Boy........Here we go.


:popcorn::popcorn:

[golfing eagles]

Both my wife and I would like to see Legal Seafood come here as well but I doubt you'd see them in the villages.

I'll vote for Doug's Fish Fry

[NotGolfer]

Drove past there this afternoon and the patio was full. Might have been a bunch who'd golfed and were then doing their "dine....after the nine!"

[kcrazorbackfan]

Pets on the patio had nothing to do with it. It is a great attraction at many restaurants. If dogs bother you more than loud old people, you are the problem.

:boom: :agree: :highfive:

[LianaB]

I eat there frequently. Best Burgers in The Villages IMHO
But I usually get the vegetarian black bean "burger" or portabello mushroom "burger".
I'm hoping they Villages location is here to stay!

[NYGUY]

Looks like Square 1 is going out of business --the company has filed for bankruptcy protection--this is a signal for all future restaurants who has to rely on burgers as their mainstay--

Apparently none of you know anything about a Chapter 11 Bankruptcy filing. The company is reorganizing, not going out of business. That would be Chapter 7. Reading is fundamental. No one has said anything about the the local Square 1 closing.

[dbussone]

It's a corporate financial problem not their Villages location when they're closing all those other locations. Instead of all these burger places I wish we'd get another seafood place.
Lighthouse is always crowded. Legal Seafood, where are you? Please come here.



I'd kill for a Legal Seafood restaurant.


Sent from my iPad using Tapatalk Pro

[DeanFL]

Apparently none of you know anything about a Chapter 11 Bankruptcy filing. The company is reorganizing, not going out of business. That would be Chapter 7. Reading is fundamental. No one has said anything about the the local Square 1 closing.


Whoa! Kinda harsh NY...

Per the news re this topic, Sq 1 had 10 locations and they have shut down two since May. The remaining 8 locations are filed for individual Chapt 11. Including TV's.

In its bankruptcy filing, Square 1 blamed the financial troubles on an over-saturated restaurant market.

-------------------------

“Unfortunately, between 2014 and 2016, a number of restaurant franchises flooded the market saturating the areas around Square One’s restaurant with a litany of dining options,” court documents said. “When the competition settled in, Square One struggled to breakeven and quickly fell behind with its creditors.”

----------------------------

We typically go to TV Sq 1 once every 2 weeks or so, and have noticed substantial drop in diners the last 3 months or so, even mentioning that to waitstaff - their answer "Yes it's been slow..." And they have coupon specials, moreso lately it appears (good...but potentially bad).

So the concern is not actually 'closing soon', but unless business, creditor relief, or their balance sheet improves, it could be a matter of time for any of their LLC locations. It's a relatively small operation with little leverage.
Sign of the times unfortunately.

[perrjojo]

We don't live near their bad location but dine there often. I love eating the overpriced burgers in the dark, dingy atmosphere. BTW, I have only seen a dog on the patio once so those nasty dogs didn't bother me. I hope they remain open. I guess there is no accounting for what some people enjoy.

[graciegirl]

We don't live near their bad location but dine there often. I love eating the overpriced burgers in the dark, dingy atmosphere. BTW, I have only seen a dog on the patio once so those nasty dogs didn't bother me. I hope they remain open. I guess there is no accounting for what some people enjoy.

Et moi aussi.:coolsmiley:

[DeanFL]

Went to Sq1 TV for lunch today - curious, and have a $6 off coupon.
We were there about noon >place about 1/2 full (or 1/2 empty...).

Ordered our usual 'The American' with no seasoning - her broccoli as side, me a few onion rings. Great burger as usual IMO.
Asked the waitress how all is going. She said customers had questions (as we did), but business has been very good - the TV location is the best/busiest of all Sq1 locations. She said it is definitely a reorg-thing, and perhaps let loose of some locations that were losers. She said her job there is her sole income, has kids - and not worried at all. Said "if I was worried I would not be working today but out looking for another job. The waitstaff seemed to be very upbeat.

We hope all this is 100% as Sq1 is our close favorite place to occas cheat on a red-meat diet. And with coupons etc, price is right (free email club pays off).

[graciegirl]

I love an excellent hamburger and Chatbrat, I see no reason why a restaurant wouldn't survive featuring them.

[DonH57]

Two of the best burgers I have had were The Pub and Tierra Del Sol Grille.

[JP]

Ate there twice. Both times average food at inflated prices with poor service.

[perrjojo]

Today's Daily Sun reports that Square One WILL NOT be closing the Villages location. Makes me happy.

[graciegirl]

Today's Daily Sun reports that Square One WILL NOT be closing the Villages location. Makes me happy.

We managed to see another rumor quelled.

Go TEAM!

[Taltarzac725]

We managed to see another rumor quelled.

Go TEAM!

Never had one of these burgers now may get an opportunity to do so.

[Mrs. Robinson]

I guess pets on the Patio wasn't such a strong market after all..
Stopped me from eating there.

:bigbow::bigbow::bigbow:

Why would a pet on a patio, which is outside of a restaurant, prevent you from eating there?

I am assuming you are speaking about eating inside, no?

[wisbad1]

I agree'didn't know if I was eating dog burgar's or not. love dogs ,not in restrants. saw alady in Publix at deli,couldn't beleive they let her walk around holding that little rat around food. made me sick!

[Aw Man]

Never had one of these burgers now may get an opportunity to do so.

We thought the Square 1 burgers were great the first 6 months they were open at Pinellas. There was a definite downgrade in the quality of all their food thereafter.
I'm thinking they must have started buying cheaper product for all their stores due to poor sales at other locations.

Want a good burger?.....try City Fire at LSL. BUT, sadly, no fries available.

[OpusX1]

Burgers are good if over priced, very big so we split one( Jucy Lucy) along with a order of fantastic onion rings, really good.

[KennyP]

Glad they are not closing this one.

Love sitting on the patio, great service, good food and priced right.

[Kazmi]

We're coming down for a couple of weeks in a few days and really looking forward to some onion rings at the Square! We make sure that we have dinner there every time we're in for a visit. The kids even bought hubby a Square gift card for Father's day since its one of our favorite places to dine in TV.

BTW We've been there several times and have yet to see a dog on the patio and wouldn't mind if we did.

[JRichm369]

Went to Square 1 this evening, woefully understaffed, people that were there were working hard to keep up, but it was not good. Half the tables were empty but we along with about 10 others in 3 groups had to wait, when we were seated the table next to us was not bussed for about another 15 minutes. After sitting there for 10 minutes the manager took our order, and another 15 min we got the appetizer another half hour for sandwiches, $25.00 for 2 burgers and almost no service in a restaurant that was half full. So sad!!

[dbussone]

If this restaurant is one we wish to save, we need to support it. And recognize it may take awhile to recover.


Sent from my iPad using Tapatalk Pro