Houlihan’s Files for Chapter 11 Bankruptcy; Rival, Landry’s LLC is Stalking Horse Bidder
HRI Holding Corp, aka the Houlihan’s restaurant chain, filed for Chapter 11 bankruptcy in Delaware under docket number 19-12415 on Thursday, November 14, 2019.
The Debtor owns 47 restaurants in 14 states, under Houlihan’s, Houlihan’s Restaurant + Bar, Bristol Seafood Grill, J. Gilbert’s Wood-Fired Grill, and Devon Seafood Grill restaurants.
HRI Holding Corp owns 100% of Houlihan’s Restaurants Inc., but there are 39 separate entities, 93.4% owned by affiliates of York Capital Management.
The Debtor has an asset purchase agreement with Landry’s for a stalking horse bid for most of the assets.