Dec 15 (Reuters) - Fox & Hound Restaurant Group filed for
Chapter 11 bankruptcy to sell its assets through a court
process, as weakening profit and cash shortage hurt the sports
bar and pub operator, a court filing showed.
F&H Acquisition Corp, parent of Fox & Hound, listed out
assets and liabilities in the range of $100 million to $500
million. The parent operates sports bars and casual family
dining restaurants under the Fox & Hound and Champps brands.
Besides Fox & Hound, 41 of F&H's affiliates also filed for
The company said it was not "immune to the effects of the
economy and rising commodity prices, and restaurant sales, and
overall profitability and liquidity, suffered significantly."
F&H also sought court approval for a Debtor-In-Possession
(DIP) facility, which will provide it with a revolving credit
facility of about $3.5 million on an interim basis and about
$9.6 million on a final basis.
Fox & Hound said the chapter 11 route would help it run a
streamlined sale process for substantially all of its assets.
Through September 2013, the company had revenue of $218.8
million, a 5 percent reduction over the comparable period in the
prior year, the filing showed.
Founded in Arlington, Texas in 1994, the company and its
affiliates' operate about 101 restaurants located in 27 states,
and have about 5,500 hourly employees and 500 salaried
The case is F&H Acquisition Corp et al, Case No. 13-13220,
U.S. Bankruptcy Court, District of Delaware.