Cosi Inc. has named Randy Kominsky of Alliance for Financial Growth to serve as chief restructuring officer as the company works its way through bankruptcy, the operator said Friday.
The fast-casual operator sought federal debt protection Wednesday after steep sales losses this year drained the company of remaining cash reserves. Boston-based Cosi has closed restaurants and put itself up for sale. The company could be sold to lenders for $6.8 million.
Kominsky will report to Patrick Bennett, interim CEO of Cosi, and will lead the company’s restructuring efforts. He is slated to begin his duties on Oct. 4.
Kominsky has more than 25 years of experience working with companies and creditors in Chapter 11 bankruptcy, out-of-court restructurings, turnarounds and crisis management. He has been CEO, CFO, board member and advisor for troubled companies, focusing on increasing cash flow, profitability, and advising on mergers and acquisitions.