"Pinstripes went public and began trading on the New York Stock Exchange in January 2024, but it was delisted just over one year later due to low capitalization. In March 2025, the company announced that it had entered a loan agreement to "strengthen" its balance sheet after a "challenging year", as founder and CEO Dale Schwartz put it in a press release at the time. Pinstripes' Chief Financial Officer Tony Querciagrossa also stepped down earlier this year."
"but in a press release, Schwartz said the board was "not satisfied" with the top-line results. Pinstripes reportedly closed a number of locations this week, including in California, Chicago, and Kansas City. Pinstripes will continue to operate as normal Joseph Hendrickson/Shutterstock Silvercrew Credit Partners has made a $16.6 million bid on Pinstripes' assets, most of it by turning the company's debt into ownership, according to documents obtained by Restaurant Business."
Pinstripes has filed for Chapter 11 bankruptcy and will continue operating while addressing its financial challenges. The chain went public in January 2024 and was delisted just over a year later for low capitalization. The company entered a loan agreement in March 2025 and experienced a CFO departure earlier in the year. Revenue rose 10.4% in the most recent quarter, but the board expressed dissatisfaction with top-line results. Several locations were closed in California, Chicago, and Kansas City. Silvercrew Credit Partners submitted a $16.6 million bid, primarily converting debt to ownership, amid roughly $143 million in debt. Pinstripes was founded in 2007 and combines bowling, bocce, and Italian-American dining.
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