SBE originally intended to sell their Katsuya and Cleo brands to The ONE Group back in June but today both parties announced a mutual drawback on the transaction. There's no explanation from flacks regarding the reasoning behind the sale termination, but it seems that both parties had a change of heart regarding the long term plans for each brand.
With the termination, SBE is now planning to build an additional 11 Katsuya properties, up from its current number of eight, which the original Studio City sushi bar will begin showing up at prime real estate locations around the country. Katsuya already has spread across locations like Brentwood, Glendale, Hollywood, and inside the SLS Vegas. SBE also has three new Cleo outlets in the works.
Meanwhile, The ONE Group will continue to focus on its STK and STK Rebel (the latter has a broader, more affordable menu beyond steak) brands.