Bryn & Dane’s, the Plymouth Meeting-based mini-chain of healthful fast-casual cafes that sell wraps and smoothies, filed for bankruptcy protection to get out of the leases of two shuttered locations, founder Bryn Davis said, adding that it was business as usual at three remaining locations.
The voluntary petition, filed Jan. 29 in U.S. District Court, is seeking protection under Chapter 11 of the code, which calls for a restructuring of a debtor’s assets. Bryn & Dane’s Global Inc. listed assets and liabilities of $500,000 to $1 million.
Davis owns 69.17% of the equity in Bryn & Dane’s Global, while 14 individuals and entities own the remainder, according to the filing.
The filing followed by two weeks the abrupt closings of Bryn & Dane’s locations in Malvern and Center City Philadelphia which he said involved different business partners. Bryn & Dane’s current locations — in Horsham, Plymouth Meeting, and Bryn Mawr — are “operating normally and successfully," Davis said.
Davis said a location in Uganda was due to open soon and that a store in Doylestown is still on track.
The Malvern location opened in early 2018 on Route 29 next to the EZ-Pass onramp to the Pennsylvania Turnpike. The Center City location, which opened in August 2019 after numerous delays, was located in the Franklin at 834 Chestnut St.
Davis started the business 10 years ago in a Horsham business park with a snack bar serving smoothies and popcorn.