Magic Brands LLC, parent of the Fuddruckers and Koo Koo Roo brands, said on Wednesday it had agreed to sell substantially all of its assets to Tavistock Group in a $40 million deal that included filing for Chapter 11 bankruptcy protection. Magic Brands, which filed the Ch. 11 petition in U.S. Bankruptcy Court in Delaware, said it would close 24 of its 85 corporate Fuddruckers units by the end of the month, and evaluate the 13 Koo Koo Roo units, which are based in California. The company said ...

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