Executive Briefing
Foxtrot’s comeback mantra: Simpler, better
Mike LaVitola has a rare second chance to reboot. Will it work? Also: Cava’s steak enters the ring. And Momofuku wants to be a restaurant company again?
By Dan Frommer on Monday, June 10, 2024 at 8:00 am
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Foxtrot, the beloved modern convenience store chain that unexpectedly went out of business in April, is attempting a comeback.
Mike LaVitola, who co-founded the company in 2014 — and lost his CEO job last April, before things really went sideways — is leading, in partnership with Further Point Enterprises, a shadowy (website gone!) holding company that acquired Foxtrot’s intellectual property in a weird asset auction last month.
The idea now is to raise a modest amount of capital and reopen a bunch of Foxtrot stores in Chicago, Dallas, and Austin sometime this summer. It’s not yet clear how many landlords will play ball; there were 33 locations when it closed.
LaVitola’s mantra this time around is: Simpler, better.
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