FOR IMMEDIATE RELEASE
Local investors and founders of three Utah restaurant brands come together to Keep Utah Working
(Salt Lake City, UT – March 23, 2020) The Savory Fund restaurant portfolio is adapting well and is confident we will survive this unforeseen challenge and emerge even stronger. Unfortunately, modified operations would normally lead to reduced hours for our employees or outright layoffs. Many of our colleagues in the restaurant industry have already taken drastic steps to reduce costs by letting go far too many dedicated and hardworking employees.
Our family of brands, including the founders of R&R BBQ, Mo’Bettahs Hawaiian, and Swig, have each committed $250,000 to keep doors open, keep 1,400 employees working, and provide good food to the community. Greg Warnock and Andrew K. Smith, managing directors of the Savory Fund, have also committed a matching $250,000 for a total of $1,000,000.
“These funds are earmarked towards current Savory portfolio team members to extend runway and provide security during these difficult times,” stated Greg Warnock. Andrew added, “We commit to keeping our employees engaged whether serving customers, serving each other, or serving the community that has been so good to us. We need to keep working! We can do this while still being socially conscious and by taking extreme safety measures for our employees and guests. We want our employees to continue to have purpose and direction, and this provides some relief during this very uncertain time.”
Shauna Smith, president of Savory’s exclusive value-add and portfolio support team, Four Foods Group, said, “We will keep our team working and delivering meals to those in need. We will be here for the heroes that are working hard in hospitals and other medical facilities, not to mention the employees of essential businesses like Costco, Walmart, and Smith’s. They are all sacrificing to support this fight.”
This $1,000,000 has been allocated, funded and is currently being deployed.
Savory and its portfolio of brands are committed to seeing this through and hiring more individuals once this crisis passes to fuel new economic growth. We are all in this together.
Join us in our commitment to keep everyone working and emerge even stronger having weathered this storm.
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Savory Fund is a restaurant food & beverage fund targeted towards promising restaurant concepts seeking a capital partner, geographic growth and industry leading support. Combined with veterans from Four Foods Group, the Savory Fund is uniquely positioned for the next phase of restaurant growth in the U.S. Find more about Savory @ savoryfund.mercatopartners.com.