The Grape chain seeks bankruptcy to reorganize

The Atlanta Journal-Constitution

Friday, November 07, 2008

The Grape, the wine bar chain that can boast hip-hop star Usher as a franchisee, has filed for Chapter 11 bankruptcy.

The chain has five Atlanta locations and nearly a dozen in other states.

The Grape has more than $2 million in outstanding debts, according to a bankruptcy filing. Two of its executives are owed more than $140,000 in back pay.

The company is asking for a federal bankruptcy judge in Atlanta to approve debtor financing while the company reorganizes.

A spokesperson for the chain couldn’t immediately be reached Thursday night.

The chain was founded by Jack Mazur in Vinings. Michael Coles, former CEO of Caribou Coffee, is a member of the advisory board.

The star Usher made headlines when he opened a franchise of the Grape in Inman Park. His restaurant is not part of the bankruptcy petition.

According to the Grape’s Web site, it costs from $943,000 to $1.4 million to open a Grape franchise and investors need a minimum net worth of $2.5 million.



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