RioStar Corporation was an American restaurant holding corporation controlled by
Ninfa Laurenzo
Maria Ninfa Rodriguez Laurenzo (nicknamed Mama Ninfa, ." Ninfa Laurenzo Early Childhood Center. Retrieved on Febr ...
and her family. The company controlled the
Ninfa's
The Original Ninfa's on Navigation is a popular Mexican restaurant located at 2704 Navigation Boulevard in Houston, Texas. The restaurant serves both Tex-Mex and Mexican cuisine. The Original Ninfa's was started by Ninfa Rodríguez Laurenzo, ...
,
Bambolino's
Bambolino's is an Italian American restaurant in Houston, Texas. The original Bambolino's Inc. restaurant chain was established by Ninfa Laurenzo and her family, who had established the Ninfa's restaurant chain. When RioStar was in existence, its corporate headquarters were in the
East End
The East End of London, often referred to within the London area simply as the East End, is the historic core of wider East London, east of the Roman and medieval walls of the City of London and north of the River Thames. It does not have uni ...
of Houston, Texas.
RioStar was one of Houston's largest Hispanic-owned businesses. In 1994 it was one of 23 Hispanic-owned businesses in
Greater Houston
Greater Houston, designated by the United States Office of Management and Budget as Houston–The Woodlands–Sugar Land, is the fifth-most populous metropolitan statistical area in the United States, encompassing nine counties along the Gulf Co ...
to be listed in ''Hispanic Business'' magazine's top 500 Hispanic-owned business in the United States, taking the rank of 65th largest.Hassel, Greg. Billy Blues, Ninfa's break engagement " ''
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
''. Thursday September 23, 1993. Business 1. Retrieved on February 6, 2012. Roland Laurenzo, Ninfa's son, served as the company's president. Lee Kelleher served as the vice president and chief financial officer.Boisseau, Charles. Serving up more Cajun/Atchafalaya hot on expanding " ''
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
''. Saturday March 24, 1990. Business 1. Retrieved on February 6, 2012. Steve DiMeo served as the executive vice president.
History
Roland Laurenzo, a graduate of the
United States Naval Academy
The United States Naval Academy (US Naval Academy, USNA, or Navy) is a United States Service academies, federal service academy in Annapolis, Maryland. It was established on 10 October 1845 during the tenure of George Bancroft as Secretary of ...
, was named president of RioStar Corporation when he was 24 years old, around the year 1976.
In 1989 the company had eleven Ninfa's locations, with one in
Dallas
Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...
, and 13
Bambolino's
Bambolino's is an Italian American restaurant in Houston, Texas. The original Bambolino's Inc. restaurant chain was established by Ninfa Laurenzo and her family, who had established the Ninfa's restaurant chain.Stovall, Watrina. Best Bites " ''
The Dallas Morning News
''The Dallas Morning News'' is a daily newspaper serving the Dallas–Fort Worth area of Texas, with an average print circulation of 65,369. It was founded on October 1, 1885 by Alfred Horatio Belo as a satellite publication of the ''The Galves ...
''. Friday January 5, 1990. Home Final Guide Dining Page 6. Retrieved on February 7, 2012. In November 1989 RioStar had purchased four Atchafalaya River Cafe locations, two in
Greater Houston
Greater Houston, designated by the United States Office of Management and Budget as Houston–The Woodlands–Sugar Land, is the fifth-most populous metropolitan statistical area in the United States, encompassing nine counties along the Gulf Co ...
and two in the Dallas-Fort Worth Metroplex, for $6 million. RioStar had acquired them from Richard Tanenbaum, a Houston restaurateur. Greyhound Financial Corp., a firm from
Phoenix, Arizona
Phoenix ( ; nv, Hoozdo; es, Fénix or , yuf-x-wal, Banyà:nyuwá) is the capital and most populous city of the U.S. state of Arizona, with 1,608,139 residents as of 2020. It is the fifth-most populous city in the United States, and the o ...
, loaned $4 million to RioStar to allow it to acquire Atchafalaya River Cafe. Of the Atchafalayas locations in the DFW Metroplex, one was in
Addison
Addison may refer to:
Places Canada
* Addison, Ontario
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*Addison, Alabama
*Addison, Illinois
*Addison Street in Chicago, Illinois which runs by Wrigley Field
*Addison, Kentucky
*Addison, Maine
*Addison, Michigan
*Addison, New York
* ...
and one was in Arlington. In March 1990 RioStar stated that it planned to build two or three more Atchafalaya locations over the following 12 to 18 months, intending to open one in
Clear Lake City
Clear Lake City is a master-planned community located in southeast Harris County, Texas, within the Bay Area of Greater Houston. It is the second-largest master-planned community in Houston – behind Kingwood. The majority of the communi ...
by September 1990.
In 1989 and 1990, RioStar converted four Bambolino's locations into
Ninfa's
The Original Ninfa's on Navigation is a popular Mexican restaurant located at 2704 Navigation Boulevard in Houston, Texas. The restaurant serves both Tex-Mex and Mexican cuisine. The Original Ninfa's was started by Ninfa Rodríguez Laurenzo, ...
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
''. Friday June 8, 1990. Business 2. Retrieved on February 6, 2012. The first conversion occurred in November 1989, and the conversions of the other three occurred afterwards. Ten Bambolino's remained.
In March 1990 RioStar managed eleven Ninfa's locations, 10 Bambolino's locations, and four Atchafalaya River Cafe locations. Rio Star had $27.2 million in sales in 1990. In May 1991 the company, then the largest Hispanic-owned employer in Houston, had 1,300 employees, 11 Ninfa's, 10 Bambolino's, 4 Atchafalaya's, and nine other food operations. In 1993 the chain managed a total of 33 restaurants. During that year, RioStar finalized a deal to sell two Atachafalayas to
Landry's Restaurants
Landry's, Inc., is an American, privately owned, multi-brand dining, hospitality, entertainment and gaming corporation headquartered in Houston, Texas. Landry's, Inc. owns and operates more than 600 restaurants, hotels, casinos and entertainmen ...
, receiving over $3 million. After selling those two and then opening two additional Atchafalayas locations, RioStar owned six Atchafalayas.
In 1996 the Laurenzo family, under RioStar, opened Bradley's Restaurant and Brewery, which was the only brewery in Clear Lake City. Bertrand Callahan created the menu, which included beer and light and hearty food items.Staff. DIGEST " ''
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
''. Friday April 5, 1996. Dining Guide Page 1. Retrieved on February 6, 2012.
Planned Billy Blues sale
In 1993 RioStar planned to sell half of itself to Billy Blues Food Corp., a
San Antonio, Texas
("Cradle of Freedom")
, image_map =
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, map_caption = Interactive map of San Antonio
, subdivision_type = Country
, subdivision_name = United States
, subdivision_type1= State
, subdivision_name1 = Texas
, subdivision_t ...
company. This would have given Billy Blues an interest in
Ninfa's
The Original Ninfa's on Navigation is a popular Mexican restaurant located at 2704 Navigation Boulevard in Houston, Texas. The restaurant serves both Tex-Mex and Mexican cuisine. The Original Ninfa's was started by Ninfa Rodríguez Laurenzo, ...
and Atchafalaya River Cafe. In exchange, RioStar was to be given $10 million to open 15 new restaurants in 1993 and additional funds to open new restaurants in 1994. The deal was to be designed so that RioStar would remain as an independent company. The companies planned on using the funds from the joint venture to sell Ninfa's-branded products in grocery stores. They had produced a non-binding letter of intent. Ultimately the two companies cancelled their plans, because they were unable to agree upon the details of how the venture would be operated.
Bankruptcy protection and sale
On October 16, 1996, three subsidiaries of Sysco filed an involuntary bankruptcy petition against RioStar in an attempt to force the company to pay $2.8 million in debts. Sysco asked the U.S. bankruptcy courts to liquidate the chain,Elder, Laura Elizabeth. "Rapid expansion caused Ninfa's debt woes, says restaurant official." ''
Houston Business Journal
American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes The Business Journals, which contains local business news for 44 markets in the United States, Hemmings Motor New ...
''. Sunday November 3, 1996 1 Retrieved on February 6, 2012. under the
Chapter 7 Chapter 7 may refer to:
Albums
* ''Chapter Seven'' (album), a 2013 album by Damien Leith.
*''Chapter VII'', a 1973 album by drummer Buddy Miles
Television
* Chapter 7 (''American Horror Story''), 2016 episode of ''American Horror Story''
* Chapte ...
bankruptcy code. On Wednesday October 30, 1996, In addition, the company
Southern Produce
Southern may refer to:
Businesses
* China Southern Airlines, airline based in Guangzhou, China
* Southern Airways, defunct US airline
* Southern Air, air cargo transportation company based in Norwalk, Connecticut, US
* Southern Airways Express, M ...
also participated in the filing against RioStar; RioStar owed $51,682 to Southern Produce. Sysco severed its supplies to RioStar after doing the filing. Tom Laurenzo said that the restaurant chain expanded too aggressively, allowing for the debt situation to arise. Opening a new Ninfa's restaurant, which would have 180 to 200 seats, had a cost of $1 million apiece. In October 1996 Ninfa's, Inc., the holding company of Ninfa's restaurants, had liabilities of $14.6 million and assets of $9.1 million.Bivins, Ralph. Ninfa's chain files for bankruptcy/Heavy debt follows growing pains " ''
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
''. Thursday October 31, 1996. Business 1. Retrieved on February 6, 2012.
RioStar filed for
Chapter 11 bankruptcy protection
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...
, making the case into a voluntary reorganization case so RioStar can determine how to pay its creditors. RioStar was scheduled to submit a reorganization plan on March 1, 1997. RioStar negotiated with vendors, and received a $500,000 line of credit from
Conco Foods
Conco ( cim, Kunken) is a town in the province of Vicenza, Veneto, Italy, in the comune of Lusiana Conco. As of 2007, Conco had an estimated population of 2,272. Altitudine is 799 m asl in piazza.
Sources(Google Maps)
Cities and towns i ...
, a food distribution company in Louisiana. Morian Investments Inc. provided a $1.5 million line of credit so that RioStar could continue operations. The chairperson and chief executive officer of Strategic Capital Corp., Malcolm Lovett Jr., agreed to become RioStar's new financial advisor. Tom Laurenzo, a son of Ninfa Laurenzo who served as RioStar's vice president for marketing, said that business at the restaurant increased after the filing and that members of the business community moved to support the family.Elder, Laura Elizabeth. "Rapid expansion caused Ninfa's debt woes, says restaurant official." ''
Houston Business Journal
American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes The Business Journals, which contains local business news for 44 markets in the United States, Hemmings Motor New ...
''. Sunday November 3, 1996 3 Retrieved on February 6, 2012.
As part of the bankruptcy reorganization, RioStar and the Ninfa's chain were sold to Serrano's Cafe and Cantina in 1998. The Laurenzo family was no longer involved in the business of the restaurants owned by RioStar.Huynh, Dai. " ''
Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With i ...
''. Monday June 18, 2001. A1. Retrieved on February 5, 2012.
See also
*
Landry's Restaurants
Landry's, Inc., is an American, privately owned, multi-brand dining, hospitality, entertainment and gaming corporation headquartered in Houston, Texas. Landry's, Inc. owns and operates more than 600 restaurants, hotels, casinos and entertainmen ...
*
Mexilink Mexilink Inc. is a distributor of Mexican products headquartered in Houston, Texas.Contact Us ." Mexilink. Retrieved on ...
*
Pappas Restaurants
Pappas Restaurants, Inc. or simply Pappas Restaurants is a privately held restaurant chain, headquartered in Houston, Texas. Its brands include Pappas Bros. Steakhouse, Pappas Seafood, Pappas Bar-B-Q, Pappas Burger, Pappadeaux Seafood Kitchen, ...