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Centerbridge’s CraftWorks Files Ch. 11, Plans Sale to Fortress

March 3, 2020, 12:45 PM

CraftWorks Parent LLC files for Chapter 11 protection in Delaware with a plan to sell itself to affiliates of Fortress Credit Co. for at least $138 million.

  • Craftworks, owned by Centerbridge Capital Partners, operates restaurants and breweries such as Logan’s Roadhouse, Gordan Biersch Brewery Restaurant and Old Chicago Pizza & Taproom
    • Co. has more than 330 locations in 39 states, along with more than 70 franchise locations, Chief Executive Officer Hazem Ouf says in court declaration
    • Craftworks posted revenue of about $720m in 2019, Ouf says
  • Co. lists assets and liabilities of as much as $500 million each ...