Content Spotlight
Tech Tracker: How digital tech is capitalizing on the hot restaurant reservations market
Tock and Google now offer experience reservations; Diibs launches as a platform for bidding on last-minute reservations
Bar Louie’s secured lender Antares Capital LP took over the Addison, Tx.-based gastropub chain in May and begins a recovery period
After the Addison, Tx.-based, 90-unit gastropub chain Bar Louie filed for Chapter 11 bankruptcy in January, the company underwent a restructuring process to tackle their debt and closed 38 locations. In April, Bar Louie’s agent for its secured lenders, Antares Capital LP, acted as the stalking horse purchaser of the company and bought them out of bankruptcy, using $82.5 million of its pre-petition claim to acquire the business via auction.
Since then, the now 73-unit company (with 50 corporate and 23 franchise locations) has been focused on recovery efforts, according to Bar Louie CEO Tom Fricke, as they tackle both the challenges of coming out of Chapter 11 bankruptcy and the unique hurdles presented by the COVID-19 pandemic.
“We filed i...
This content is available for registered users
Already have an account?