Florida Based World Of Beer Files for Bankruptcy

Photo byWorld of Beer

The unfortunate end has arrived.

Less than a month after World of Beer Bar & Kitchen in Tampa reopened its Jacksonville gastropub under new franchisee ownership and management, the company has filed for Chapter 11 bankruptcy protection. According to court documents, the restaurant company filed for bankruptcy last Friday in the Tampa division of the U.S. Bankruptcy Court for the Middle District of Florida.

The chain's Jacksonville gastropub, located at 5105 Butler Blvd. off Interstate 95 in Southpoint, remains open despite the bankruptcy filing. A company representative confirmed to the Times-Union on Monday that the restaurant is not expected to be affected by the restructuring process.

World of Beer Bar & Kitchen reopened its Jacksonville location on July 16, featuring a new franchisee and management team. The decision to restructure comes in response to "growing market pressures," including rising interest rates, inflation, increased operating costs, and a slower-than-expected return to pre-pandemic dining habits, according to a company news release.

The chain highlighted the openings of its Jacksonville gastropub and another location in Odessa, Florida, as evidence of its optimism about the future.

"Today’s restructuring ensures the long-term health and sustainability of WOB Bar & Kitchen. This step is a strategic move to realign our operations, reduce debt, and enhance our financial flexibility. We are confident in our future, backed by a solid plan and a dedicated team committed to delivering exceptional dining experiences,” said Paul Avery, World of Beer president and CEO, in the news release.

Avery added that the restructuring "will place WOB Bar & Kitchen in a stronger position moving forward."

"Our focus remains on serving our loyal customers, supporting our employees and franchises, and positioning our restaurants for continued growth and success in a competitive landscape," he continued.

Founded in 2007 by two friends in Tampa, World of Beer currently lists 34 locations on its website. The chain first opened the Southpoint gastropub in May 2022 after a six-year absence from Jacksonville. At that time, it was intended to be the first of two World of Beer locations in Duval County.

A second location featuring a rooftop patio had been planned for 1198 Beach Blvd. in Jacksonville Beach but never opened.

The Southpoint gastropub reopened 14 months after its abrupt closure on May 7, 2023, which was attributed to "organizational challenges within the franchise group" under its previous ownership.

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