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MUNCHERY, INC., Debtor. Case No
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION In re: Case No. 19-30232 (HLB) MUNCHERY, INC., Chapter 11 Debtor. FIRST AMENDED JOINTLY PROPOSED COMBINED CHAPTER 11 PLAN OF LIQUIDATION AND TENTATIVELY APPROVED DISCLOSURE STATEMENT DATED AS OF JUNE 10, 2020 INTRODUCTION This is the First Amended Jointly Proposed Combined Chapter 11 Plan of Liquidation and Disclosure Statement (the “Plan”), which is being proposed by Munchery, Inc. (the “Debtor”) and the Official Committee of Unsecured Creditors of the Debtor (the “Committee”) in the above- captioned chapter 11 case (the “Chapter 11 Case”) pending before the United States Bankruptcy Court for the Northern District of California, San Francisco Division (the “Bankruptcy Court”). The Plan identifies the classes of creditors and describes how each class will be treated if the Plan is confirmed. The treatment of many of the classes of creditors is intended to be consistent with a Restructuring Support Plan and Term Sheet (the “Settlement Term Sheet”), which was previously approved by the Bankruptcy Court. Part 1 contains the treatment of secured claims. Part 2 contains the treatment of general unsecured claims. Part 3 contains the treatment of administrative and priority claims. Part 4 contains the treatment of executory contracts and unexpired leases. Part 5 contains the effect of confirmation of the Plan. Part 6 contains creditor remedies if the Debtor defaults on its obligations under the Plan. Part 7 contains general provisions of the Plan. Creditors in impaired classes are entitled to vote on confirmation of the Plan. Completed ballots must be received by counsel to the Debtor, and objections to confirmation must be filed and served, no later than August 7, 2020 at 5:00 p.m. -
Restaurants, Takeaways and Food Delivery Apps
Restaurants, takeaways and food delivery apps YouGov analysis of British dining habits Contents Introduction 03 Britain’s favourite restaurants (by region) 04 Customer rankings: advocacy, value 06 for money and most improved Profile of takeaway and restaurant 10 regulars The rise of delivery apps 14 Conclusion 16 The tools behind the research 18 +44 (0) 20 7012 6000 ◼ yougov.co.uk ◼ [email protected] 2 Introduction The dining sector is big business in Britain. Nine per cent of the nation eat at a restaurant and order a takeaway at least weekly, with around a quarter of Brits doing both at least once a month. Only 2% of the nation say they never order a takeaway or dine out. Takeaway trends How often do you buy food from a takeaway food outlet, and not eat in the outlet itself? For example, you consume the food at home or elsewhere Takeaway Weekly or Monthly or several Frequency more often times per month Less often Never Weekly or more often 9% 6% 4% 1% Monthly or several times per month 6% 24% 12% 4% Eat out Eat Less often 3% 8% 14% 4% Never 0% 1% 1% 2% (Don’t know = 2%) This paper explores British dining habits: which brands are impressing frequent diners, who’s using food delivery apps, and which restaurants are perceived as offering good quality fare and value for money. +44 (0) 20 7012 6000 ◼ yougov.co.uk ◼ [email protected] 3 02 I Britain’s favourite restaurants (by region) +44 (0) 20 7012 6000 ◼ yougov.co.uk ◼ [email protected] 4 02 I Britain’s favourite restaurants (by region) This map of Britain is based on Ratings data and shows which brands are significantly more popular in certain regions. -
Delivering the Multisensory Experience of Dining-Out, for Those Dining-In, During the Covid Pandemic
REVIEW published: 21 July 2021 doi: 10.3389/fpsyg.2021.683569 Delivering the Multisensory Experience of Dining-Out, for Those Dining-In, During the Covid Pandemic Charles Spence 1*, Jozef Youssef 2 and Carmel A. Levitan 3 1 Department of Experimental Psychology, Oxford University, Oxford, United Kingdom, 2 Chef/Patron, Kitchen Theory, London, United Kingdom, 3 Department of Cognitive Science, Occidental College, Los Angeles, CA, United States In many parts of the world, restaurants have been forced to close in unprecedented numbers during the various Covid-19 pandemic lockdowns that have paralyzed the hospitality industry globally. This highly-challenging operating environment has led to a rapid expansion in the number of high-end restaurants offering take-away food, or home-delivery meal kits, simply in order to survive. While the market for the home delivery of food was already expanding rapidly prior to the emergence of the Covid pandemic, the explosive recent growth seen in this sector has thrown up some intriguing issues and challenges. For instance, concerns have been raised over where many of the meals that are being delivered are being prepared, given the rise of so-called “dark kitchens.” Furthermore, figuring out which elements of the high-end, fine-dining experience, and of the increasingly-popular multisensory experiential dining, can be captured by those Edited by: Igor Pravst, diners who may be eating and drinking in the comfort of their own homes represents an Institute of Nutrition, Slovenia intriguing challenge for the emerging field of gastrophysics research; one that the chefs, Reviewed by: restaurateurs, restaurant groups, and even the food delivery companies concerned Alexandra Wolf, are only just beginning to get to grips with. -
Future of Food How Ghost Kitchens Are Changing the Food Landscape
WINTER 2019 | RETAIL SPOTLIGHT REPORT FUTURE OF FOOD HOW GHOST KITCHENS ARE CHANGING THE FOOD LANDSCAPE #ColliersRetail colliers.com/retail CONTENTS 01 Introduction Rise of Food Delivery 02 (Let the Hunger Games Begin) The Creature Comforts of Food Delivery 03 (What Consumers Want) Rise of Food Delivery Ghost Kitchens: 04 Problem or Solution? 05 Q&A with Stephen O’Brien 06 Conclusion Anjee Solanki National Director, Retail Services Colliers International | USA Neil Saunders Managing Director and Retail Analyst GlobalData Retail Copyright © 2019 Colliers International.The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report. ANJEE SOLANKI National Director Retail Services | USA INTRODUCTION Retail stores are not alone in reinventing themselves. Restaurants are also looking at what’s working and what needs to be changed based on consumers’ shifting habits. Virtual kitchens, commonly known as cloud or ghost kitchens, are stripped- down commercial cooking spaces with no dine-in option. Functioning as hubs for online delivery and catering orders, they circumvent the need for costly culinary buildouts in premium locations. An increasing number of restaurants are considering the virtual kitchen model, as delivery, catering and carryout are growing in popularity and revenue share. As prime real estate becomes less necessary for restaurateurs, there is likely to be a reallocation of space to accommodate delivery and catering facilities as well as fleet vehicles. -
Sweet on Desserts
DIY DINNERS: HOW TO BUILD A DESIGN STRATEGIES THAT MEAL KIT PROGRAM 10 16 SET THE MOOD JUNE 2016 VOLUME TWO n ISSUE TWO SweetSweet onon DessertsDesserts Gelato bars, retro treats, artisan donuts and more PAGE 4 Bi-Rite Market taps into San Francisco’s culinary talent pool PAGE 26 GRO 0616 01-07 Desserts.indd 1 5/23/16 9:13 PM 570 Lake Cook Rd, Suite 310, Deerfield, IL 60015 • 224 632-8200 http://www.progressivegrocer.com/departments/grocerant Senior Vice President Jeff Friedman 201-855-7621 [email protected] IS FAILURE EDITORIAL Editorial Director Joan Driggs 224-632-8211 [email protected] Managing Editor Elizabeth Brewster Art Director Theodore Hahn [email protected] Contributing Editors THE NEW Kathleen Furore, Kathy Hayden, Amelia Levin, Lynn Petrak, Jill Rivkin, Carolyn Schierhorn, Jody Shee ADVERTISING SALES & BUSINESS Midwest Marketing Manager John Huff NORMAL? 224-632-8174 [email protected] Western Regional Sales Manager Elizabeth Cherry 310-546-3815 [email protected] Eastern Marketing Manager Maggie Kaeppel It doesn’t have to be. 630-364-2150 • Mobile: 708-565-5350 [email protected] Northeast Marketing Manager Mike Shaw 201-855-7631 • Mobile: 201-281-9100 [email protected] Marketing Manager Janet Blaney (AZ, CO, ID, MD, MN, MT, NM, NV, OH, TX, UT, WY) [email protected] 630-364-1601 Account Executive/ Classified Advertising Terry Kanganis 201-855-7615 • Fax: 201-855-7373 [email protected] General Manager, Custom Media Kathy Colwell 224-632-8244 [email protected] -
Online Food and Beverage Sales Are Poised to Accelerate — Is the Packaging Ecosystem Ready?
Executive Insights Volume XXI, Issue 4 Online Food and Beverage Sales Are Poised to Accelerate — Is the Packaging Ecosystem Ready? The future looks bright for all things ecommerce primary and secondary ecommerce food and beverage packaging. in the food and beverage sector, fueled by What do the key players need to consider as they position themselves to win in this brave new world? Amazon’s purchase of Whole Foods, a growing Can the digital shelf compete with the real thing? millennial consumer base and increased Historically, low food and beverage ecommerce penetration consumer adoption rates driven by retailers’ rates have been fueled by both a dearth of affordable, quality push to improve the user experience. But this ecommerce options and consumer inertia. First, brick-and-mortar optimism isn’t confined to grocery retailers, meal grocery retailers typically see low-single-digit profit margins due to the high cost of managing perishable products and cold-chain kit companies and food-delivery outfits. distribution. No exception to that rule, ecommerce retail grocers struggle with the same challenges of balancing overhead with Internet sales are forecast to account for 15%-20% of the food affordable retail prices. and beverage sector’s overall sales by 2025 — a potential tenfold increase over 2016 — which foreshadows big opportunities for Consumers have also driven lagging sales, lacking enthusiasm for food and beverage packaging converters that can anticipate the a model that has seen challenges in providing quick fulfillment evolving needs of brand owners and consumers (see Figure 1). and delivery service — especially for unplanned or impulse And the payoff could be just as lucrative for food and beverage buys. -
Uber Eats Promo Code Terms and Conditions
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Grubhub: Real-Time Case Study of the Post-Hype Sleeper Setup
Grubhub: Real-Time Case Study of the Post-Hype Sleeper Setup Elliot Turner of RGA Investment Advisors presented his in-depth investment thesis on Grubhub (US: GRUB) at Wide-Moat Investing Summit 2019. Thesis Summary: Elliot calls one of his favorite setups “the post-hype sleeper” after the fantasy baseball term for a player who joined the league with considerable hype only to take longer to develop than the average fan expected. Markets are pretty similar in how early hype gets extrapolated too far, and when reality settles in, investors must grapple with whether the setback in valuation is temporary or permanent. Such stocks get stuck in-between a growth and value investor base and are thus perfect for scouting out GARP opportunities. For the second time in less than four years, Grubhub has set up accordingly as a result of a business model evolution from a pure two-sided marketplace connecting diners with restaurants to a three-sided marketplace adding in the delivery component. For the first time in over two years the stock is trading at a market cap to Gross Food Sales below one. With the nationwide rollout of turnkey delivery, investors are questioning the long-term margin profile of the business; however, Elliot believes margins are the wrong focal point. Delivery is inherently lower margin as a result of higher take rates. EBITDA/Gross Food Sales is more appropriate and has been pretty consistent around the 4.5% level, though with the nationwide rollout of turnkey it will be lower in 2019. For delivery marketplaces, network effects matter most on the local and/or regional level and Grubhub dominates the most delivery-friendly markets in the US. -
UBER COMPLETES ACQUISITION of POSTMATES Combination Of
UBER COMPLETES ACQUISITION OF POSTMATES Combination of platforms provides more choice and convenience for consumers, new demand and tailored technology offerings for restaurants, and increased income opportunities for delivery people SAN FRANCISCO — Uber Technologies, Inc. (NYSE: UBER) today announced that it has completed the acquisition of Postmates Inc. in an all-stock transaction, and that the two companies have begun the process of integrating U.S. operations. As previously announced, the transaction brings together Uber’s global Mobility and Delivery platform with Postmates’ beloved business in the U.S. to strengthen the delivery of food, groceries, essentials, and other goods. The consumer-facing Postmates and Uber Eats apps will continue to run separately, supported by a more efficient, combined merchant and delivery network. In connection with the closing, Uber has signaled its commitment to the success of the restaurants and merchants who use its technology to reach customers and delivery people by announcing a national listening tour. These efforts are designed to better understand merchants’ needs, and to continue to develop products, services, and policies that protect their interests. “Uber and Postmates have long been committed to powering delivery services that support local commerce and communities, all the more important during crises like the one we face today. We’re thrilled to bring these two teams together to continue to innovate, bringing ever-better products and services for merchants, delivery people, and consumers across the country,” said Uber CEO Dara Khosrowshahi. “We built Postmates to empower local commerce and bring the best of your city to your home, especially in cities like Los Angeles and across the southwest," said Bastian Lehmann, co-founder and CEO of Postmates. -
Grocery Delivery MAY / 2O19
1 RETAIL Grocery Delivery MAY / 2O19 As global online grocery sales could reach as high as $334 billion by 2022,1 grocers are evolving delivery services and experimenting with innovative technologies to meet demand. 1 Forrester Research — The State of Global Online Grocery Retail, 2018 2 EVOLVING DELIVERY ——— Consumer expectations for quick and convenient shopping — and fast, fresh delivery — are adding pressure to the already expensive supply chain. In a low-margin industry like grocery, the substantial increase in logistics costs creates a major challenge — leading grocers to experiment with different delivery models to lower costs. Some are partnering with third-party logistics specialists (as Kroger has done with Ocado in the U.S.), while others are building their own logistics capabilities (as Ahold Delhaize has done since its 2001 purchase of Peapod). Others are blending third- party logistics with in-house capabilities. As grocery delivery gains popularity, we will see a proliferation of new models and technologies that aim to lower costs while meeting consumer demands. 3 REAL ESTATE IMPACT ——— Increased Urban Retailers Will Focus on Environments Convert a Greater Curbside Will Drive Portion of Store Pickup in the Growth in Home Space to Service Suburbs Delivery Delivery In lower-density suburban Given the high cost of last-mile Grocery retailers recognize the markets, distribution costs will food delivery, e-commerce delivery importance of having a large store be higher for retailers. As a result, options will grow faster in denser footprint that can be leveraged by retailers will focus their efforts urban markets, where distribution their delivery services. -
Understanding Food Delivery Platform: Delivery Persons‟ Perspective
Hyderabad Understanding Food Delivery Platform: Delivery Persons‟ Perspective School of Public Policy and Governance 1 Table of Contents Family‟s Response to Delivery Work ................................................8 Theme ...................................................................................................2 Reason to Work as Delivery Partner ..................................................9 Assets Required for Entering this Work ............................................9 Abstract .................................................................................................2 Access to Financial Credit ................................................................10 Asset Ownership and Social Dynamics ...........................................10 About us ................................................................................................3 Working Status and Condition .........................................................11 Key Findings .........................................................................................4 Working Hours .................................................................................11 Income ..............................................................................................13 Introduction ..........................................................................................5 Feedback for Supervisors .................................................................14 Social Security Benefit .....................................................................15 -
How Has COVID-19 Impacted Customer Relationship: Dynamics at Restaurant Food Delivery Businesses?
Marketing Science Institute Working Paper Series 2021 Report No. 21-129 How has COVID-19 Impacted Customer Relationship: Dynamics at Restaurant Food Delivery Businesses? Elliot Shin Oblander and Daniel Minh McCarthy “How has COVID-19 Impacted Customer Relationship: Dynamics at Restaurant Food Delivery Businesses? ” © 2021 Elliot Shin Oblander and Daniel Minh McCarthy MSI Working Papers are Distributed for the benefit of MSI corporate and academic members and the general public. Reports are not to be reproduced or published in any form or by any means, electronic or mechanical, without written permission. How has COVID-19 Impacted Customer Relationship Dynamics at Restaurant Food Delivery Businesses? Elliot Shin Oblander Columbia University, [email protected] Daniel Minh McCarthy Emory University, [email protected] In this paper, we quantify the impact of COVID-19 on customer purchase behaviors – customer acquisition, retention, ordering, and spending – within the restaurant food delivery category in the United States and assess the mechanisms through which these e↵ects have arisen using a unique collection of data sources. Our results suggest that pre-pandemic customer purchase trends were unfavorable, with falling acquisitions and weakening cross-cohort repeat purchase dynamics. COVID-19’s impact has been significant, creating $19.3 billion in incremental sales for the category in 2020, or 69% of the overall year-on-year increase in sales. This increase was primarily due to higher purchase frequency from already-active pre-COVID customers and an increase in average order size, not due to changes in customer acquisition and retention. Turning to mechanisms, we find that this growth is primarily attributable to substitution away from restaurant dine- in; while increased stay-at-home behavior has increased customer adoption and order size, it has actually dampened overall sales growth.