Punch Bowl Social

Leadership

Peeling back the mystery of Cracker Barrel CEO Sandy Cochran

The long-serving family dining chain leader has kept her head down and her sights forward, despite the distractions of a 10-year takeover attempt and setbacks in the search for a fresh growth opportunity.

Operations

A year after getting a new owner, Punch Bowl Social tries to get back in the game

The once buzzed-about food-and-games chain, which declared bankruptcy early in the pandemic after scoring a big Cracker Barrel investment, is working to recapture its lost momentum.

Robert Cornog, one of the founders of the food-and-games concept, and Richard Flaherty, previously its COO, will share leadership duties as the company emerges from the pandemic.

Crowd Out Capital’s $32 million bid for the company has been approved as a dispute with another lender is ended, paving away for it to emerge from bankruptcy this month.

The lender, which has controlled the eatertainment chain since last year, was named the stalking horse bidder for the chain, but other potential buyers are lurking.

The company and its lender have made peace and the company is attracting interest from potential buyers.

The eatertainment chain’s bankruptcy filing revealed a dispute with its lender that dated back to last year.

The company filed for Chapter 11 on Monday. On Tuesday it blamed the filing on two former executives.

The new CEO of the struggling eatertainment chain says the company is facing "a very tough 12 months," but is confident in its future.

The former head of Garden Fresh Restaurants replaces chain founder Robert Thompson, who resigned last week.

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