Photo credit: courtesy of Brokelyn

It is both a sad and surprising decision. Maison Kayser declared bankruptcy in the United States on September 10, the bakery chain said in a press release sent on September 11.

After rumors about a possible closure at the end of July, the company had yet announced its intention to reopen in September, in a press release that it had sent us on August 3. But “The obstacles, including the indefinite timetable for the total reopening of the dining room in New York, turned out to be too great to be overcome”, explains in this press release the CEO of Maison Kayser USA, Jose Alcalay. “We have evaluated many options and determined that a bankruptcy proceeding and the sale of our assets is the best way forward for all stakeholders in the business”.

This is not the end of Maison Kayser in New York and the United States, however, since the company has completed what is called a “Chapter 11 Petition”, a procedure allowing the sale of the assets of the company as well as ‘a reorganization of its debt. Maison Kayser adds in the same press release that “Among the documents filed on September 10 during the bankruptcy proceedings is an agreement to buy assets by MK USA, LLC, a subsidiary of the hotel group Aurify Brands”. Aurify Brands notably operates Five Guys Burger restaurants in New York. It has also already bought the Le Pain Quotidien brand in the United States, also in receivership, last June.

Other companies may also apply to buy back the assets of Maison Kayser. The first hearing before the New York court is scheduled for Monday, September 14.

Founded in 2012 in New York, Maison Kayser USA, a franchise of French baker Eric Kayser, had quickly grown to include around twenty stores, mainly in Manhattan. Created by two entrepreneurs, Louis-Jean Egasse and Lou Ramirez – the latter left it several years ago – the American company was financed in particular by the investment fund of Charles Heilbronn, member of the Wertheimer family, historical shareholders by Chanel. Open to prestigious addresses, the restaurants quickly became favorites with New Yorkers and tourists. The prolonged closure due to the pandemic got the better of this foray of French craftsmen into the Big Apple.

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