Ignite Restaurant Group filed with the U.S. Bankruptcy Court a notice of prevailing bid and backup bid for the sale of substantially all of Debtors’ assets.
The notice states, “At the conclusion of the Auction, the Debtors, after consultation with the Consultation Parties, determined that the bid submitted by Landry’s, Inc. of $57,000,000 is the Prevailing Bid and Landry’s, Inc. is the Prevailing Bidder….The Debtors, after consultation with the Consultation Parties, identified and certified the bid submitted by CRIIIKING2017, LLC of $56,900,000 as the Backup Bid and CRIIIKING2017, LLC as the Backup Bidder.”
As previously reported, “[F]or important and pressing business reasons, any sale transaction must close on or before September 8, 2017, or the Stalking Horse Bidder may terminate the Agreement.” The Court previously scheduled an August 17, 2017 sale hearing.
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