Sizzler Bankruptcy Plan OK’d Pending Pact with Equity Holder (1)

Jan. 5, 2021, 10:47 PM; Updated: Jan. 6, 2021, 12:27 AM

Sizzler restaurants’ bankrupt parent won confirmation of its Chapter 11 reorganization plan after resolving issues with an equity holder that raised questions in court about an agreement that hadn’t been finalized.

Judge M. Elaine Hammond of the U.S. Bankruptcy Court for the Northern District of California confirmed the plan Tuesday under the condition that agreement with the equity holder are finalized by Jan. 12. The restaurant can have an additional two weeks to work out details as long as all parties agree, she said.

If the agreement isn’t finalized, the plan won’t go into effect, she said.

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