Sushi Ronin operated at 2930 Umatilla St. in Denver. (BusinessDen file)
After twice being blocked by federal judges from restructuring its debts, and stopped by its landlord from selling to a competitor, Sushi Ronin in LoHi has closed its doors.
The restaurant, which opened in late 2015, stopped serving on Feb. 28. It was the original of what became three Sushi Ronin locations in the city, all of which have shuttered.
“Through the journey, there were a lot of great, high moments,” majority owner Alex Gurevich recalled of his nearly decade-long run by phone this week. “We learned a lot and had a lot of people work for us who have moved on and become head chefs in other spaces. All in all, I think it was just unfortunate to have the legal battles that we have dealt with.”
The restaurant at 2930 Umatilla St. went bankrupt in 2023 as Gurevich feuded with minority owners Rebecca and Jeremy Crawford. The bankruptcy canceled a summer 2024 trial in which each would have accused the other of fraud. Their dispute strained Ronin’s finances.
Gurevich filed a plan last summer to restructure the restaurant’s debts and emerge from bankruptcy but it was rejected by a U.S. Bankruptcy Court judge, who found it would have unfairly benefited Gurevich to the detriment of the Crawfords. Lawyers for Sushi Ronin appealed the rejection to a U.S. District Court judge, who similarly rejected the restructuring.
“I think he completely screwed up, as we can see,” Gurevich said of the bankruptcy judge, Michael Romero. “…That was really insane. Our attorneys were beyond frustrated.”
Convinced that he could no longer operate the restaurant, Gurevich pursued a sale. A restaurant broker who had previously sold Sushi Ronin’s Congress Park location to Bamboo Sushi was hired and soon had an offer for $149,000. That fell through but in December there was a second $149,000 offer from the owner of Taki Sushi in the Speer neighborhood.
“Everybody was like, ‘This is a good deal,’” Gurevich said. “There would be continuity, the landlord would have a solid operator. Not a newbie, an experienced restaurateur.”
“But the landlord, meanwhile, was approached by another potential tenant and ultimately decided that with their corporate backing, that would be the better way to go.”
The five-story building at 2930 Umatilla St. (BusinessDen file)
The five-story office and retail building at 2930 Umatilla St. is owned by The Miller Family Cos., real estate developers and investors out of California. Owner Tony Miller says that sushi was the problem.
“Simply, we did not feel that another sushi concept in the space was appropriate after the demise of Sushi Ronin,” he said.
Gurevich says that the incoming restaurant tenant agreed to pay significantly higher rent than Sushi Ronin or its buyer would have paid under a lease extension. So, the Millers declined to lease the space to Ronin’s prospective buyer, and the restaurant sale fell through.
“It was a tactical business decision. If I was the landlord, I would be doing the same thing. It makes sense if they’re going to get more rent,” Gurevich explained this week.
Unable to restructure its debts or sell, Sushi Ronin is converting to a Chapter 7 bankruptcy. A trustee will liquidate its few remaining assets and distribute proceeds to its creditors.
Gurevich let employees know in mid-February. Several managers soon found new jobs.
“My final comment would be: I’ve learned my lesson of how to really conduct business with the right partners,” the restauranteur said, “and knowing who you are going to deal with.”
Sushi Ronin operated at 2930 Umatilla St. in Denver. (BusinessDen file)
After twice being blocked by federal judges from restructuring its debts, and stopped by its landlord from selling to a competitor, Sushi Ronin in LoHi has closed its doors.
The restaurant, which opened in late 2015, stopped serving on Feb. 28. It was the original of what became three Sushi Ronin locations in the city, all of which have shuttered.
“Through the journey, there were a lot of great, high moments,” majority owner Alex Gurevich recalled of his nearly decade-long run by phone this week. “We learned a lot and had a lot of people work for us who have moved on and become head chefs in other spaces. All in all, I think it was just unfortunate to have the legal battles that we have dealt with.”
The restaurant at 2930 Umatilla St. went bankrupt in 2023 as Gurevich feuded with minority owners Rebecca and Jeremy Crawford. The bankruptcy canceled a summer 2024 trial in which each would have accused the other of fraud. Their dispute strained Ronin’s finances.
Gurevich filed a plan last summer to restructure the restaurant’s debts and emerge from bankruptcy but it was rejected by a U.S. Bankruptcy Court judge, who found it would have unfairly benefited Gurevich to the detriment of the Crawfords. Lawyers for Sushi Ronin appealed the rejection to a U.S. District Court judge, who similarly rejected the restructuring.
“I think he completely screwed up, as we can see,” Gurevich said of the bankruptcy judge, Michael Romero. “…That was really insane. Our attorneys were beyond frustrated.”
Convinced that he could no longer operate the restaurant, Gurevich pursued a sale. A restaurant broker who had previously sold Sushi Ronin’s Congress Park location to Bamboo Sushi was hired and soon had an offer for $149,000. That fell through but in December there was a second $149,000 offer from the owner of Taki Sushi in the Speer neighborhood.
“Everybody was like, ‘This is a good deal,’” Gurevich said. “There would be continuity, the landlord would have a solid operator. Not a newbie, an experienced restaurateur.”
“But the landlord, meanwhile, was approached by another potential tenant and ultimately decided that with their corporate backing, that would be the better way to go.”
The five-story building at 2930 Umatilla St. (BusinessDen file)
The five-story office and retail building at 2930 Umatilla St. is owned by The Miller Family Cos., real estate developers and investors out of California. Owner Tony Miller says that sushi was the problem.
“Simply, we did not feel that another sushi concept in the space was appropriate after the demise of Sushi Ronin,” he said.
Gurevich says that the incoming restaurant tenant agreed to pay significantly higher rent than Sushi Ronin or its buyer would have paid under a lease extension. So, the Millers declined to lease the space to Ronin’s prospective buyer, and the restaurant sale fell through.
“It was a tactical business decision. If I was the landlord, I would be doing the same thing. It makes sense if they’re going to get more rent,” Gurevich explained this week.
Unable to restructure its debts or sell, Sushi Ronin is converting to a Chapter 7 bankruptcy. A trustee will liquidate its few remaining assets and distribute proceeds to its creditors.
Gurevich let employees know in mid-February. Several managers soon found new jobs.
“My final comment would be: I’ve learned my lesson of how to really conduct business with the right partners,” the restauranteur said, “and knowing who you are going to deal with.”
