Famous Dave’s Owner Wins Auction for Bankrupt Steakhouse Chain

BBQ Holdings Inc., the restaurant operator that owns the Famous Dave’s brand, will pay up to $5.3 million to buy bankrupt Fresh Acquisitions LLC’s Tahoe Joe’s steakhouse chain and other assets.

BBQ Holdings’ winning bid in the Oct. 1 bankruptcy auction includes a $4.2 million cash offer and an agreement to pay up to $1.1 million to cover Fresh Acquisitions’ outstanding liabilities, according to a court filing Monday by Fresh Acquisitions, whose brands include Old Country Buffet.

With the deal, BBQ Growth, a BBQ Holdings affiliate that submitted the bid, is buying six Tahoe Joe’s locations, and the debtors’ intellectual ...