Bar Louie Gets $82.5 Million Bankruptcy Sale to Lender Approved

Bankrupt gastropub chain Bar Louie has received bankruptcy court approval to sell its 73 operating restaurants to its secured lender for $82.5 million worth of debt.

Antares Capital LP will take over the business from BL Restaurants Holding LLC through a deal approved during a telephonic hearing Monday in the U.S. Bankruptcy Court for the District of Delaware.

In authorizing the transaction, Judge Mary F. Walrath allowed the company to continue sorting through issues over amounts owed to various landlords and other unsecured creditors.

Walrath said she was “happy to approve the sale” as the business world grapples with the ...