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MANATEE COUNTY — Breakfast, brunch and lunch restaurant chain First Watch has temporarily closed its company-owned restaurants as of April 13.
The company made the announcement in a letter signed by President and CEO Chris Tomasso posted to social media.
"Throughout these past few weeks of trials and tragedy, through sleepless nights worrying about our people and their families, through daily calls with our leadership team to discuss countless scenarios and make nearly impossible decisions, I’ve seen the best in people," Tomasso writes. "For 37 years, First Watch has operated around one core principle: You First. It’s a simple concept that speaks volumes to us — our people are our most important asset, and their physical safety and health, as well as their mental well-being, are always our priority. I carry that responsibility, and it is not something I take lightly."
The letter says the company is committed to continuing its restaurant managers’ existing health care benefits. First Watch will cover 100% of out-of-pocket costs, co-pays and deductibles for any medical visits related to COVID-19. It's invested in telemedicine benefits for every First Watch employee and their family at no cost to them.
The company committed to providing a bonus upon restaurant managers' return to work to close the gap between the federal and state benefits they received and their First Watch salary. The benefits, the letter says, are being funded in part by "significant cost reductions and senior leadership pay cuts through 2020."
System-wide, the east Manatee County company has 382 restaurants. That includes 309 company-owned restaurants and 73 franchise locations. According to a First Watch official, some franchisees chose to temporarily close their restaurants throughout the past couple of weeks. There are now 39 franchise restaurants open.
The restaurant concept was founded in 1983 in Pacific Grove, Calif. It is majority owned by private equity firm Advent International. It had $354 million in revenue in 2018.
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