![]() ![]() After negotiating a new lease for Farrell's most successful location, Lemonis agreed to help save the restaurant in exchange for a 75 percent stake in the company. Lee admitted he wasn't able to do his job properly because of Kramer's resistance to change. When Lemonis investigated further into Farrell's demise, he spoke with Lee, who had been working as a regional manager at the restaurant for nearly six years and was in charge of updating the restaurant's menu in 2016. "I normally am the easiest guy to persuade with a good story but the story here isn't a good one: negligence and mismanagement of funds," he added. and I have to decide whether I just want to cut my losses and move on because I don't want to throw good money after a bad situation," Lemonis said. The most successful Farrell's location, which once brought in over $4 million in sales, closed down because the owners' were behind on rent. ![]() Instead, Kramer and Fleming neglected the changes Lemonis had requested. Lemonis entrusted Parlour Enterprise CFO Paul Kramer and its since-resigned CEO Mike Fleming with the task of revamping the restaurant. In 2016, Lemonis partnered with Parlour Enterprises, which operated the California Farrell's locations, to revive the brand in exchange for a 51 percent stake in the Farrell's trademark.Īt the time, Farrell's was generating $17 million a year in revenue, but suffered from large debts, unprofitable locations and lackluster food. Farrell's was once a popular national chain in the 1960s and 70s, closed down by the late 1980s and reopened under new ownership in 2010.
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