Iron Hill breweries set to be sold to former CEO of Famous Dave’s.
Jeff Crivello, the former CEO of Famous Dave’s BBQ, is poised to rejuvenate ten previously closed Iron Hill Brewery locations throughout the eastern United States, including sites in Center City and West Chester, Pennsylvania. This initiative follows Crivello’s successful bid of million, which has been approved by U.S. Bankruptcy Judge Jerrold N. Poslusny Jr. in New Jersey, as confirmed by court documents.
Pending negotiations with landlords, Crivello’s plans encompass shuttered establishments in Center City, Huntingdon Valley, Newtown, West Chester, Wilmington, Lancaster, Hershey, Rehoboth Beach, and two sites in South Carolina. The proposed reopening may either maintain the Iron Hill brand or transition to different concepts, though specific details are still under discussion.
The bankruptcy proceedings and subsequent closures of Iron Hill Brewery triggered significant concern among stakeholders, as the popular brewery and restaurant chain, which has been a staple in the suburbs for nearly 30 years, had recently expanded into Philadelphia and down South. Iron Hill abruptly ceased operations across all locations prior to filing for liquidation bankruptcy, citing a million debt to creditors. The sudden closure has left gaps in shopping centers and downtown areas, prompting local business owners and residents to speculate on what future developments might fill these voids.
In a strategic move, Crivello has announced that he plans to reopen the Rehoboth Beach location along with establishments in Columbia and Greenville, South Carolina, as outlets of Three Notch’d Brewing Co., a brand that currently operates six locations throughout Virginia. Although the specific plans for the remaining seven locations are still in the negotiation phase, Crivello aims to finalize details in the near future.
Crivello’s track record includes revitalizing Famous Dave’s during his tenure as CEO, and he has recently expanded his portfolio by acquiring several other restaurant chains. His entry into the Philadelphia market marks a significant milestone, demonstrating a commitment to the restaurant demographic of the East Coast, which he describes as a vibrant market for dining establishments.
As developments progress, it is important to note that locations not acquired by Crivello will face an auction in early December, highlighting the shifting landscape of the restaurant industry in this region. As stakeholders brace for impending changes, the future of the Iron Hill brand remains a focal point of discussion among local communities and business leaders.
Media News Source
