If you were planning on watching upcoming NCAA or NFL games at a Fox & Hound or Champps sport bar, you should call first. Dozens of locations for the bar/restaurant chains are shuttering only weeks after their parent company filed for bankruptcy protection.
When it filed for bankruptcy in early August , the now-ironically named Last Call Guarantor LLC operated 48 Fox & Hound locations and 23 Champps bars, along with 9 Bailey’s restaurants.
Now, a company rep tells Nation’s Restaurant News that Last Call has shuttered a total of 25 locations, leaving 37 Fox & Hounds, 14 Champps, while Bailey’s only has 4 remaining eateries.
Closed locations include those in Chattanooga, New Orleans, and New Jersey
The restaurant closures came after Last Call received $5.4 million in financing from Kelly Investment Group — a private equity firm that specializes in restructuring — to keep the company in operation until a planned auction next month.
Last Call said in a bankruptcy filing that without the financing, it would “not be able to continue their business operations beyond August 30,” NRN reports.
In addition to providing needed financing, Kelly Investment Group acquired the rights to $75 million in first lien debt that Last Call had owed to Antares Capital.
Antares has pushed the bankruptcy court to convert Last Call’s filing to Chapter 7, which would have resulted in the closure of all operations.
This is the second time Last Call has filed for bankruptcy since 2013. At that time, the company filed for federal debt protection with $117 million in debts, blaming its issues on failed financial decisions.
Fox & Hound, Champps close 25 units [Nation’s Restaurant News]
by Ashlee Kieler via Consumerist
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