Buca Di Beppo Creditors Challenge Sale to Main Street Capital

Creditors of Buca di Beppo urged a Texas bankruptcy court to reject a proposed sale of the restaurant chain to lender Main Street Capital Corp. unless valuable assets are excluded from the deal.

Main Street is poised to take over Buca Di Beppo by forgiving $27 million worth of secured loans it has provided to the Italian eatery.

But the private equity firm doesn’t have perfected liens on a large bucket of assets, including $2 million worth of liquor licenses, company vehicles, and about $35.5 million worth of legal claims against Planet Hollywood and other corporate insiders, an official committee ...