Projo Biz Blog

The revolving door at 123 Empire St. in Providence spun once again this morning as a Superior Court judge approved the sale of Bravo Brasserie

Bravo Brasserie is the fourth restaurant to occupy the corner of Empire and Washington Streets since 1999 in what would seem to be a prime location across from Trinity Rep's Lederer Theater downtown.

In August, the majority owner of Bravo Brasserie pushed the business into state receivership, hoping to find a buyer willing to assume the restaurant's debts, some of which were inherited from a previous owner. Receivership is a form of bankruptcy in which a court appoints a trustee to either liquidate a company or sell its assets to pay the accumulated debt.

In late 2006, Peter Rotelli, of East Providence, took a majority stake in the restaurant at 123 Empire St. Bob Higginbotham, of Providence, took a minority share in the venture. He served as the retaurant's general manager until the receivership filing.

At the time of the filing, the largest creditor was Strata Bank, of Massachusetts, which was owed in excess of $500,000.

A business associated with Rotelli, RS Associates, has agreed to take over the restaurant's operations and debt, paying more than $543,000 to take over the business.
Rotelli's son, Kyle, will become a partner in the business. He'll work with Fred Goodwin, a veteran of the defunct Barnsider's Mile and a Quarter, who is the new general manager.

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