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BOSTON- Back Bay Restaurant Group, Inc., operators of 35 restaurants based in the Northeast, has received $28.5 million to refinance and expand its recently opened French restaurant, known as Bouchée, on Newbury St. in Boston's Back Bay.
The Boston-based restaurant group, which counts among its holdings Joe's American Bar & Grill, Atlantic Fish Company, Charley's Eating & Drinking Saloon, Coach Grill, Papa Razzi and Abe & Louie's, obtained the financing through GE Capital Solutions, Franchise Finance, of Scottsdale, AZ.
Under the terms of the deal, Back Bay Restaurant Group obtained $4 million in revolving credit for working capital and restaurant improvements along with a $24.5 term loan to refinance the restaurant, a representative of GE Capital tells GlobeSt.com.
Robert Ciampa, vice president and chief financial officer of Back Bay, says in a statement that the restaurant group selected GE Capital Solutions, Franchise Finance because company officials felt comfortable with the firm's knowledge of the restaurant industry. Ciampa declined further comment when contacted through a representative by GlobeSt.com.
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