Portfolio

Company Overview

Salad and Go (And Go Concepts, LLC) is a quick-service, drive-through restaurant chain founded in Arizona in 2013. The Company offers made-to-order salads, wraps, soups, and breakfast items at prices competitive with traditional fast food. Its vertically integrated operating model utilized small-footprint, drive-through-only locations, supported by centralized preparation, portioning, and distribution of ingredients. At its peak, Salad and Go operated 146 locations across Arizona, Nevada, Texas, and Oklahoma and achieved a valuation of approximately $1.1 billion in 2022.

Situation

An aggressive 2021 expansion into Texas and Oklahoma proved unsuccessful, with weaker site fundamentals, buildouts ahead of consumer awareness, and significant fixed overhead driving persistent cash-flow deficits. Despite closing more than 70 underperforming locations and completing a $27 million recapitalization in late 2025, mounting lease obligations and a cyclospora outbreak accelerated cash losses.

The Company filed Chapter 11 to conduct a court-supervised auction process, including bulk lease sales to Dutch Bros and 7 Brew, followed by an orderly wind-down of remaining assets. Twelve Bridge Capital's DIP financing provides the liquidity to fund the auction, preserve asset value, and support the wind-down. The Debtors currently anticipate paying all creditors in full.

Company Overview

Ample, Inc. is a San Francisco-based developer of modular battery swapping systems and charging infrastructure for electric vehicle fleets. Founded in 2014, the company developed autonomous robotics technology enabling EV battery replacement in under five minutes, targeting commercial fleet operators in logistics, ride-hailing, and delivery services. Ample established partnerships with major automotive and energy companies including Uber, Stellantis, Mitsubishi Motors, and Shell, with pilot deployments in San Francisco, Madrid, and Tokyo.

Situation

Despite raising over $330 million across five funding rounds from investors including Shell Ventures, Blackstone, Santander, and Mitsubishi Corporation, the company faced severe liquidity constraints amid a challenging capital environment for renewable energy investments. Supply chain disruptions, the contraction of public and private investment in clean energy, and regulatory delays in international markets impeded scaling efforts. The company filed Chapter 11 to pursue a Section 363 sale or recapitalization of the business, and a court-supervised §363 sale process is currently underway.

Company Overview

StopLoss Specialists, LLC and its affiliated debtors provide emergency response and property restoration services for large commercial buildings that have sustained significant disaster and weather-related damage. Headquartered in San Antonio, Texas, StopLoss Specialists holds general contractor licenses in numerous states and serves as the contracting party for restoration projects, with affiliated entities handling subcontractor management, logistics, transportation, and equipment financing.

Situation

The Debtors contracted to restore Renaissance Tower, a Dallas skyscraper, in a project expected to generate tens of millions of dollars in revenue, but ultimately after complications the project manager terminated the contract. The loss of this anchor project forced the company to terminate employees and drastically reduce operations. The Debtors filed Chapter 11 to restart operations, prosecute significant litigation claims, and collect payments under an existing settlement agreement.

Company Overview

RELLIS Campus Data and Research Center LLC is a Bryan, Texas-based data center developer constructing a Tier III facility on the Texas A&M University System RELLIS Campus. The project encompasses a two-story, 45,000 square-foot structure designed to support advanced research, technology operations, and administrative functions, including 10,000 square feet of dedicated data center space for high-performance computing and secure data management. The facility is intended to serve as both a commercial data center and an academic laboratory providing workforce training in information security, network engineering, and related specialties.

Situation

The company filed Chapter 11 after a major financial partner withdrew from the project, creating immediate liquidity challenges with construction already underway. The project had secured significant economic development incentives from both the City of Bryan and Brazos County totaling over $24 million in future property tax abatements. The Chapter 11 filing allows the developer to reorganize its finances and continue operations while working to resolve outstanding obligations and complete the strategic infrastructure project.

Company Overview

Sugarbush Armory, LLC is a Western New York sporting goods retailer specializing in firearms, ammunition, and shooting sports equipment, operating from a destination retail and training campus in Attica, New York. Founded in 2015, the business grew from a 150 square-foot retail space into a regional anchor exceeding $5 million in annual revenue by 2024, with its 18-acre campus featuring a state-of-the-art indoor shooting range, retail showroom, training facilities, and office space.

Situation

Sugarbush's growth was disrupted by a multi-year utility delay in providing 3-phase electrical service to the property, postponing the indoor shooting range opening by nearly a year and costing over $1.5 million in 2024 revenue. The resulting cash flow shortfall, combined with disruption from the sale of the company's commercial lender and a severe contraction in distributor trade credit, ultimately forced a Chapter 11 filing to stabilize operations and pursue reorganization.