LOS ANGELES
,
January 5, 2012
(Industry Intelligence)
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According to court fillings, Real Mex Restaurants Inc. will be sold via Chapter 11 auction on Jan. 26, Nation’s Restaurant News reported on Jan. 4.
Bids are due before Jan. 20, and the bankruptcy court is expected to rule on the results of the auction by Jan. 30.
Real Mex filed for bankruptcy in October 2011.
Sources familiar with the matter said that private equity firm Sun Capital Partners Inc., which is Real Mex’s majority shareholder, might still be interested in the restaurant chain.
Two people who have knowledge concerning two potential deals said that although outside parties are interested in Real Mex, thus far there has not been a stalking horse bid.
Real Mex Restaurants, which is the largest operator of full-service Mexican restaurants in the U.S., operates 144 restaurants. It is also the parent company of restaurant chains Acapulco Mexican Restaurant and Cantina, Chevys Fresh Mex, and Torito Restaurants Inc. In addition, Real Mex operates food producer and distributor Real Mex Foods, Inc.
The primary source of this article is Nation’s Restaurant News, New York, New York, on Jan. 4, 2012.
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