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In 2005, after leading the company for 20 years, Dave Stamm turned operations over to Whitefish Bay businessman Philip Anderson, who had previously built a national rubber seal distributorship before taking on the task of managing George Webb Restaurants. George Webb celebrated its 60th birthday in 2008, though struggling to make this milestone. The company was in danger of going bankrupt in the middle of 2008. In an effort to get George Webb Restaurants out of the financial crisis, Anderson, who had lent money for the 2005 purchase of the company, pushed out owner Jayne Aliota and took over day-to-day operations. As of 2008, Webb had 40 locations including nine owned by the company.
Later, the ownership of George Webb passed to M&I Bank, which held a loan that financed the business. In mid 2010, Philip Anderson bought Webb's assets from M&I. Webb required franchise operators to sign new agreements to get the franchises in a more typical franchise agreement with standardized menus. In August 2011, six former George Webb restaurants left the chain becoming "Griddlers Cafe".
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