THE WEEK IN REVIEW, WITH AN EYE ON WHAT’S NEXT NEED TO KNOW

 NOVI RESTAURANT STEVE & ROCKY’S SOLD AND REBRANDED

THE NEWS: Founders Steve Allen and Chuck “Rocky” Rachwitz sold community favorite Steve & Rocky’s to a team led by Robert Loomis, who was the restaurant’s general manager for more than three years. Loomis and his team took over ownership of the restaurant last Monday and Brentwood Grille opened in its place at 43150 Grand River Ave. on Tuesday.

WHY IT MATTERS: Despite the name and ownership changes, many of the things that made Steve & Rocky’s popular for more than 25 years will remain the same. Allen will stay on as executive chef and culinary consultant and the entire Steve & Rocky’s sta has also been maintained. A new menu will be introduced later this spring, though some Steve & Rocky’s menu items will continue to be o ered.

 LOVE & BUTTERCREAM OWNER TO CLOSE BAKERY

THE NEWS: After more than 10 years, three kids, countless special events and a pandemic, Love & Buttercream owner Brooke Wilson is pressing pause on her beloved bakery business. Wilson, who has owned and operated Love & Buttercream since 2010, is shutting down her shop at 746 E. Maple Road just outside of downtown Birmingham. She doesn’t have a rm date yet, but her lease is up May 1. She’ll take orders through March and may continue through April.

WHY IT MATTERS: e bakery owner’s decision comes as the small business has rebounded from losses incurred during the COVID-19 pandemic. Love & Buttercream brought in about $1 million in revenue in 2022, matching 2019 gures. at comes as the business, which bakes everything from wedding cakes to sandwich cookies from scratch, has been operating with a fraction of the sta it had prior to the start of pandemic. Love & Buttercream has 12 employees. At its peak in 2019, the business had around 40 employees.

New In Michigan

WHY IT MATTERS: Levine Leichtman Capital Partners specializes in investing in franchises and multi-unit retailers, including acquisitions of companies including Tropical Smoothie Cafe, Nothing Bundt Cakes, Mountain Mike’s Pizza and Wetzel’s Pretzels. Kilwins owners Robin and Don McCarty have owned the business since 1995 and will retain an ownership interest in the company.

 BLOOMFIELD HILLS LAW FIRM TO PAY RESTITUTION

Balenciaga, Breitling open at Somerset Collection

 Another globally recognized, high-end luxury retailer has chosen Somerset Collection for its rst store in Michigan.

Spanish brand Balenciaga opened a 3,600-square-foot store in the Troy mall last month. Founded in 1919 by designer Cristóbal Balenciaga in San Sebastian, Spain, and based in Paris, Balenciaga sells clothing, shoes, bags, accessories, jewelry and glasses. e Troy store — on the rst level of Somerset South between Versace and bag maker MCM — is the company’s 39th U.S. location.

Lakes

THE NEWS: Two well-known Michigan food brands are under new ownership. Petoskey-based Kilwins Quality Confections was sold to Beverly Hills, Calif.-based private equity rm Levine Leichtman.

THE NEWS: A Bloom eld Hills-based law rm charged with criminal activity for its debt collection practices was ordered Tuesday to pay $148,553 in restitution. Marc Fishman, president of Fishman Group PC, entered a no-contest plea in Oakland County court on behalf of his rm to the charge of maintaining a criminal enterprise, a 20-year felony, according to a news release from Attorney General Dana Nessel’s o ce. e court granted immediate sentencing, which called for Fishman Group to pay the restitution to all debtors who were improperly garnished and not already paid back, plus $200 in court fees.

WHY IT MATTERS: Fishman and his son Ryan, along with fellow attorney Alexandra Ichim, were originally charged in 2021 in Genesee County District Court for running a scheme to rip o small debtors.

Somerset Collection South in recent months also added Gucci’s rst men’s store and a store from outerwear brand Moncler. e north side of the mall that straddles Big Beaver Road added Swiss watch retailer Breitling earlier this year in a 700-square-foot ground oor space near Pandora. A celebration to mark the opening of Breitling’s rst boutique in the Detroit area is scheduled for March 28. And popular footwear retailer Allbirds opened its rst store in Michigan on the rst oor of the Nordstrom wing of the mall.

Balenciaga’s Somerset store opening follows a controversy near the end of last year due to ads that featured toys in bondage clothing.

Paris-based retailer

Balenciaga has opened its rst Michigan store inside Somerset Collection South.