September 7, 2018 / 10:04 PM / 3 months ago

Court approves stalking-horse for bankrupt owner of Chevys restaurant chain

Bankrupt restaurant operator RM Holdco LLC, owner of the Chevys Fresh Mex, El Torito and Acapulco Mexican Restaurant casual dining chains, won court approval on Thursday for an affiliate of its majority owner to serve as a stalking-horse bidder.

Z Capital, which holds the majority stake in RM Holdco with Tennenbaum Capital Partners, offered nearly $47 million for the remaining interest along with job guarantees to employees at restaurants that will remain open after a sale closes.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2QeWjpF

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