Biz News: Huntington Beach Ruby’s Diner files for bankruptcy
Four of the 32 restaurants in the Newport Beach-based Ruby’s Diner chain have filed for bankruptcy.
They are in Huntington Beach, Laguna Hills, Oceanside and Palm Springs, according to a news release.
The company, which started on the Balboa Pier in 1982, said the issue is expected to have “little to no impact” on the restaurants or employees.
According to Ruby’s, the four restaurants will be supported by Steven Craig, who owns other Ruby’s franchises.
“In recent years, as Ruby’s has evolved with a changing industry, the company suffered some financial setbacks from which we have been working to recover,” Doug Cavanaugh, Ruby’s chief executive, said in a statement. “For the most part, we have been successful. We believe the agreement [with Craig], once implemented, will significantly improve our capital structure and provide Ruby’s the best opportunity for long-term success. Specifically, all employees, franchisees, guests and vendors will be paid on a prompt and timely basis going forward, and our restaurants will remain open.”
‘Women on Boards’ panel comes to Costa Mesa on Wednesday
The Center Club in Costa Mesa will host a discussion titled “Women on Boards: The What, How and Why” from 3:30 to 6:30 p.m. Wednesday.
Confirmed panelists are Betsy Berkhemer-Credaire, Jane Buchan and Julie Hill. Tickets are $65 and are available by searching for the event at eventbrite.com.
The Center Club is at 650 Town Center Drive.
Grater Grilled Cheese and Springdale Cafe open in H.B.
Two new restaurants opened recently in Huntington Beach.
Grater Grilled Cheese, which sells burgers, grilled cheese sandwiches and pastas, is at 120 Fifth St. Grater also has locations in Irvine and San Diego.
Springdale Cafe at 15752 Springdale St. offers a menu including pancakes, breakfast burritos and burgers.
Hornblower offers cruises to benefit CHOC
Hornblower Cruises and Events in Newport Beach is offering a series of “CHOCtail” cruises on Wednesdays and Thursdays in September, Childhood Cancer Awareness Month, to support Children’s Hospital of Orange County.
The company also is accepting donations of socks.
Cruise tickets are $52, excluding taxes and service fees. For more information, visit hornblower.com.
Landsea Homes moves base to Newport Beach
Landsea Homes has moved its headquarters from Irvine to Newport Beach.
The homebuilder, founded in 2013, has moved to a 10,671-square-foot space at 660 Newport Center Drive.
The Newport location will serve as the company’s center of U.S. corporate strategy, legal, finance and capital markets and provide oversight of its homebuilding operations nationwide, according to a news release.
Fountain Valley apartment complex acquired for $85.8 million
Los Angeles-based TruAmerica Multifamily, in partnership with Washington, D.C.-based ASB Real Estate Investments on behalf of its Allegiance Real Estate Fund, has acquired Corte Bella, a 251-unit apartment complex in Fountain Valley for $85.8 million, according to a news release.
The property at 9580 El Rey Ave. was built in 1969 on a 12-acre site. It contains one- and two-bedroom units.
The companies plan to install washer/dryer connections in the apartments and convert the laundry facilities into amenities such as a business center, pet spa and bike storage.
Porktoberfest returning to Five Crowns
Five Crowns restaurant in Corona del Mar will host its seventh annual Porktoberfest on Oct. 11, featuring a five-course pork-centric meal paired with beers by Firestone Walker Brewing Co.
The beers will included a barrel-aged stout that has been kept in Five Crowns’ beer cellar, “enhancing the flavor and complexity of this limited-edition ale,” according to a news release.
David Walker, co-founder of Firestone, will be onsite to talk about the beers during dinner.
Porktoberfest will start at 6:30 p.m. and costs $120, including tax and gratuity.
Five Crowns is at 3801 E. Coast Hwy. For reservations, call (949) 717-4322 or search for the event at eventbrite.com.
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