The company owning the Bar Louie gastropub chain canceled its bankruptcy auction when it failed to receive any more qualified bids above an initial offer.
BL Restaurants Holding LLC will seek bankruptcy court approval of its sale under the “stalking horse” bid of its primary secured lender, Anteres Capital LP, which will credit bid $82.5 million of its debt and will assume some of the pub’s liabilities.
Bar Louie canceled its Monday auction when no other bidders stepped up by the March 26 bidding deadline previously approved by the bankruptcy court, the company said in a March 27 filing in ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.