Restaurant chain Bennigan's has had to lay off or furlough up to 70 percent of its staff because of the coronavirus crisis, and Paul Mangiamele, Bennigan's chairman and CEO, told Cheddar Thursday that the decision was 'heartbreaking.'
"We've been around 44 years now… we've been hit hard," Mangiamele said. "In fact, we got sucker punched."
Bennigan's has kept necessary cooking staff and other positions so the casual dining chain can pivot operations amid stay-at-home orders around the country.
"The spirit and the iconic nature of our brand has created this ingenious way of operating now," Mangiamele said. "We're a grocery store, we're doing adult cocktails, we're doing carry-out and delivery."
During the Great Recession, Bennigan's had to file for bankruptcy and close all 150 of its corporate-owned restaurants. Its count of 138 franchises dwindled down to the 15 U.S. locations remaining today.
Mangiamele, along with his wife, purchased the chain in 2015.
"We're a resilient species. We're a resilient brand," Mangiamele said. "If we can come through a Chapter 7 [bankruptcy], we're certainly going to come through this pandemic."
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
