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Zio's

Zio's

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by: sweetie Active Indicator LED Icon 11 Forum Moderator  OP 
~ 7 years ago   Sep 15, '16 7:54am  
There's a restaurant auction today at Zio's in humble. So I'm guessing they closed? Anyone know? I haven't been there in a while but I thought they did enough business to stay open. 4951
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donnatella Active Indicator LED Icon 13 Forum Moderator
~ 7 years ago   Sep 15, '16 7:59am  
Awww, I hate to hear that. It was reallly good but just sort of out of the way. =( 4951
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Chrisinkingwood Active Indicator LED Icon 8
~ 7 years ago   Sep 15, '16 8:11am  
Personally I haven't eaten there in years as it was just so much like other big chains like Olive Garden. Zio’s Restaurant Files for Bankruptcy
 
The casual-dining chain was hurt by the oil bust Updated Sept. 7, 2016 5:50 p.m. ET


 
 
The owner of Zio’s Italian Kitchen restaurant chain filed for
bankruptcy Wednesday, joining a wave of casual eateries struggling as
consumer preferences shift to cheaper, faster alternatives. From the WSJ last week is this article. Dallas-based
Zio’s Restaurant Co., which filed for chapter 11 bankruptcy in U.S.
Bankruptcy Court in San Antonio, operates 15 restaurants located
primarily in the Southwest and employs 875 employees. Zio’s is
shuttering five of its restaurants and is “evaluating” the remaining
locations for closure as well, according to court papers. Like
other casual eateries, Zio’s has suffered in recent years as
cash-strapped diners cut back on eating out. Those financial woes have
been exacerbated by Zio’s presence in an area that has been buffeted by
the distress in the oil and natural gas industry, said David W. Parham, Zio’s bankruptcy lawyer. The
restaurant chain also embarked on an expansion, growing to 21 outlets,
as oil and gas prices plummeted. The bust contributed to a slowdown in
the casual-dining industry in the region. Despite cutting costs
and closing some locations, Zio’s management was “unable to continue to
grow the Zio’s concept and revenues,” Mr. Parham said. Zio’s
eateries are managed by FMP SA Management Group, an affiliate of Food
Management Partners Inc., based in Hollywood Park, Texas. Food
Management’s three co-founders are the majority owners of Zio’s
Restaurant Co., according to court papers. They also signed off on the
chapter 11 petition. Representatives for Food Management Partners and Zio’s weren’t immediately available for comment.FMP also manages Buffets Restaurants, a Texas-based chain that filed
for bankruptcy in March less than a year after the company merged with
Alamo Ovation LLC, another affiliate of Food Management Partners. At the
time of its filing, Buffets operated more than 150 restaurants
employing 9,000 people under the Old Country Buffet, HomeTown Buffet,
Fire Mountain and Ryan’s brands, plus another 10 steakhouse restaurants
under the Tahoe Joe’s brand. Zio’s
says it has no secured debt and $2.3 million in unsecured trade debt
and other operating expenses. The company listed FMP as its largest
unsecured creditor with a claim of more than $834,000. Mr. Parham’s law firm, Akerman LLP, is handling the chapter 11 case. The case number is 16-52041. Judge Ronald B. King has been assigned the case. 4951
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klp1972 Active Indicator LED Icon 7
~ 7 years ago   Sep 15, '16 8:11am  
Bummer!! We liked to go there. I Google'd it, and it says "permanently closed."  4951
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sweetie Active Indicator LED Icon 11 Forum Moderator  OP 
~ 7 years ago   Sep 15, '16 8:17am  
Zip restaurant is also for sale for $2.2 million and Joe's Crab Shack is for sale for $4.5 million. I'm really surprised by both sales. 4951
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Andreweggplant Active Indicator LED Icon 15
~ 7 years ago   Sep 15, '16 8:17am  
Another one bites the dust...  I have only been there once.  They dropped my pizza on the floor (as we watched) put it back on the plate and tried to serve it.  Never went back.   4951
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Stealth83 Active Indicator LED Icon 16
~ 7 years ago   Sep 15, '16 8:18am  
Removed By Request 4951
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sweetie Active Indicator LED Icon 11 Forum Moderator  OP 
~ 7 years ago   Sep 15, '16 8:23am  
Advanced auto parts on 1960 is also for sale for $2. 2 million. 4951
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Fallon Active Indicator LED Icon 18
~ 7 years ago   Sep 15, '16 8:26am  
Removed By Request 4951
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sweetie Active Indicator LED Icon 11 Forum Moderator  OP 
~ 7 years ago   Sep 15, '16 8:29am  
Not at all surprised at Joe's Crab Shack.  That place needed to be gutted and cleaned.  Always smelled of smoke and just underlying not clean.  We haven't been there in years because of this.Zio's another one of those places.  Last time I went there, a large group of us, a roach fell off the ceiling into a plate of food on the table.  lol  Last time I went thereEmoticon
 
@Fallon:
 
Oh yuck !! 4951
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ZMAN Active Indicator LED Icon 10
~ 7 years ago   Sep 15, '16 8:31am  
Yeah, I don't think that place ever had a single dollar reinvested in it, since the day it opened.  4951
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buddyboy Active Indicator LED Icon 16
~ 7 years ago   Sep 15, '16 8:33am  
Zip restaurant is also for sale for $2.2 million and Joe's Crab Shack is for sale for $4.5 million. I'm really surprised by both sales.
 
@sweetie: i wouldnt pay 4.5.dollars for joes crap shack...that place is horrendous
 
4951
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Steven H Active Indicator LED Icon 4
~ 7 years ago   Sep 15, '16 8:37am  
We liked it, went there handful of times, but I saw that bankruptcy thing and did not know it would have such an immediate effect. 4951
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sweetie Active Indicator LED Icon 11 Forum Moderator  OP 
~ 7 years ago   Sep 15, '16 8:37am  

- - - - - - - -
>> Zip restaurant is also for sale for $2.2 million and Joe's Crab Shack is for sale for $4.5 million. I'm really surprised by both sales.
 
@sweetie: i wouldnt pay 4.5.dollars for joes crap shack...that place is horrendous
 
 
@buddyboy:
 
Lol ! I wouldn't either. I'm just surprised one of Fertitas business would fail. I was there at lunch last year and there was 2 couples there besides us. I was surprised at how few went there. 4951
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Chrisinkingwood Active Indicator LED Icon 8
~ 7 years ago   Sep 15, '16 8:47am  
@buddyboy:
 
Lol ! I wouldn't either. I'm just surprised one of Fertitas business would fail. I was there at lunch last year and there was 2 couples there besides us. I was surprised at how few went there.
 
@sweetie: It was sold by Landry's to JCS Holdings in 2006. They later changed the name to Ignite Restaurant Group.Personally I like to seek out smaller venues that are more local when I travel with my DW. We seldom eat at any chain, it isn't hard to find more interesting locally owned places and I feel like I am contributing more to a community by supporting them then a big chain that produced the same menu in every town. But I feel bad for the folks at Zio's who are out of a job. I think the nature of dining out seems to have changed and people are spending their dollars in other ways.
4951
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donnatella Active Indicator LED Icon 13 Forum Moderator
~ 7 years ago   Sep 15, '16 8:53am  
Joe's just got too commercial and chain-like. I put it in the same category as Red Lobster. The dancing waitstaff was cute the first couple of times, but it just got old...old and loud. Then they seemed to change favorite menu items, so my motivation to go dwindled.
 
It was a great place to take young kids because of the dancing and noise level...they just wouldn't disturb people around if they acted up. As The Boy got older, we sought out better quality and quieter atmosphere. 4951
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