A multiconcept group with operations ranging from a hot dog stand to a swank retro cocktail lounge has assumed management of the Elephant Bar, the casual-dining chain that filed for bankruptcy in late 2017.
Las Vegas-based Gen3 Hospitality is operating the seven remaining branches of the concept under an arrangement with Elephant Bar’s new owner, Coast to Coast Entertainment, manufacturer of arcade games in which players use a crane to snag prizes.
Elephant Bar remains a high-volume operation, generating an average of nearly $4 million in annual sales with a menu of Asian and other ethnic specialties, according to Technomic. The safari-themed restaurants are large, averaging 7,800 square feet and 300 seats.
The concept was once recognized as a promising polished-casual concept, with ample growth potential and per-restaurant sales near the top of any ranking. But it ran into financial trouble in 2014. Sixteen units were closed at that time, and the brand passed through a number of owners before seeking protection from creditors again last fall.
“Elephant Bar presented a new challenge and opportunity for our growing company,” Gen3 founder Billy Richardson said in a statement.
The remaining units are in Nevada, California and New Mexico.
Gen3’s other concepts include The Barrymore, a well-reviewed cocktail lounge and restaurant on the Las Vegas Strip that promises the sort of experience a visitor might have experienced in the 1940s. At the other end of its spectrum are Haute Doggery, a retro hot dog stand, and Holstein Shakes and Buns, a burger concept.
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