Gen Korean BBQ is rumored to be closing its longtime Mira Mesa restaurant, with residents speculating about rising rents, a new shopping center owner and the future of the popular all-you-can-eat Korean barbecue chain. While no closing date has been announced, a sweeping $100 million corporate transaction could soon bring major changes to both Gen restaurants in San Diego County.
On October 14, publicly traded Gen Restaurant Group announced that it had signed a binding letter of intent to sell operations at 47 of its U.S. restaurants to Chubby Group, the rapidly expanding hospitality company behind Chubby Cattle, Wagyu House, NIKU X, The X Pot and several other Asian restaurant concepts. The transaction, valued at up to $100 million, would effectively remove Gen from most restaurant operations as the company shifts its attention toward packaged Korean barbecue products sold through grocery retailers.