Food

Fray on Fraser closed due to legal dispute

By Vancity Buzz Staff | 1 year ago | Speak Up

The popular east Vancouver eatery, Fray on Fraser, has closed its doors for good. The reason: a partnership dispute. A message on the restaurant’s website announces the closure but also hints at a possible reopening. All hope is not lost.

Here is the message from their website:

It is with regret that we have to announce, due to a partnership dispute, that Fray has closed its doors.

The place was full, profitable and much loved by Fraser Street, but unfortunately a minority shareholder recently signed a contract to sell the business, against the instructions of the majority of investors. Now we’re in a situation where we either have to sell at a loss or face a lawsuit from the buyer, who wishes to close it and turn it into a vegan restaurant, if we don’t.

Given the circumstances, today we made the brutally hard decision to close the doors of a packed restaurant and let the lawyers do their thing.

We can only apologize to those people who had bookings and come out every week for trivia and now have nowhere to feed their kids in the hood.

We’ve fought beyond hard, but sometimes you’ve got to push back from the table and start afresh.

We’ll miss you, Fraser Street. But we won’t be gone for long.

Image: Vancouver Mom

Speak Up

  • Joel English

    Shameful. I love this place.

  • Kevin

    This sucks. I love this place too.

  • Laurent

    All aspiring entrepreneurs… make sure you have a solid Shareholder’s Agreement in place when starting a business.

    I’m no lawyer, but this sounds like it could have been avoided with a clause stating that the minority shareholder had no rights to sell the business.

  • Chris Parry

    Not really. The minority shareholder did something he wasn’t supposed to do, leaving the majority shareholders to fend off a buyer who believes he’s entitled to the keys and will sue to get them. There’s not a lot of margin in the restaurant industry at the best of times, but running a place while fighting two legal issues at once is pretty untenable.

  • Brandyzzle

    This is sad. The Fray was awesome! Too bad it ended so bitterly between the partners. :(

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