New restaurant to open at Valley Post after Pihakis collapse: ‘We are beyond excited’

After a two-and-a-half-month hiatus, Valley Post in Shelby County is preparing for a fresh start. Waldo’s Chicken & Beer is set to anchor the development this fall, breathing new life into a space that has been vacant since the Pihakis Restaurant Group collapse in April.

A New Chapter for Valley Post

The upcoming arrival of Waldo’s comes as a welcome update for the site, which shuttered suddenly just months after opening its doors in late 2025. Casey Atherton, who owns and operates three other Birmingham-area locations, plans to occupy the spot formerly home to Little Donkey. Atherton expressed his enthusiasm for the location, noting he had his eyes on the development from the moment it went dark.

"We’ve signed our lease, and expected opening would be early fall," Atherton said. "I live in Chelsea, my operator who will run that restaurant lives in Chelsea, I grew up on 280. The second it was a possibility, we were interested."

Expansion and Community Focus

Waldo’s Chicken & Beer, founded by Alabama native and University of Alabama graduate Mark Waldo, launched in Nashville in 2019. Atherton currently manages the first Birmingham-area Waldo’s in Cahaba Heights, along with sites in Pelham and on Montgomery Highway. The restaurant expects to hire approximately 40 employees for the new Valley Post location.

The brand is known for its scratch-made approach, serving fried and rotisserie chicken, signature sides, and a curated selection of cocktails and craft beers. "We’re scratch made. There’s not a freezer in our restaurants, and we are focused on food at an affordable price point," Atherton stated.

Background on the Development

Valley Post was originally envisioned by founder Nick Pihakis as a dining playground, but the project faced significant legal and financial headwinds. In April, the development went silent when Hero Diner, Luca & Lucy, Little Donkey and Rodney Scott BBQ all ceased operations simultaneously.

Real estate investor Michael Mouron subsequently filed liens and a lawsuit claiming over $8.2 million in debts, alleging that rent payments ceased as early as December 2025. Despite the site's turbulent history, Atherton remains fully committed to the project, citing his trust in the ownership team. "When Mike Mouron and his team at Capstone (Development) are involved, I think he’s one of the most savvy and genuine businessmen I’ve ever met, so I have full confidence in him," he added.

Local officials are optimistic about the turnaround, with Chelsea Mayor Cody Sumners emphasizing the city's commitment to ensuring the development remains a vibrant cornerstone for the community.