
Post-acquisition, it was determined that it was not possible to convert the Sfuzzi concept into profitable locations.
Toscorp hired M&A Capital to negotiate with certain creditors and equity holders and raise sufficient new capital to allow Pino Luongo's original venues to remain owned by Toscorp.
M&A Capital negotiated the conversion of subordinated debt into equity, the discount of certain creditors, and arranged a new senior credit facility to allow Toscorp's continued ownership of their flagship venues.