Craftworks OK'd For Ch. 11 Sale That Hands Assets To Lender

Law360 (May 20, 2020, 6:54 PM EDT) -- A Delaware bankruptcy judge on Wednesday gave his nod to the sale of bankrupt restaurant chain owner CraftWorks Parent LLC, which operates Logan's Roadhouse locations, to its secured lender that put in a $93 million credit bid, with the buyer saying it plans to keep at least 150 restaurants in operation.

During a hearing held via phone, U.S. Bankruptcy Judge Brendan L. Shannon said he will sign an order for an affiliate of secured lender Fortress Credit Co. LLC to acquire CraftWorks' assets once final revisions are made. Some landlords and other stakeholders were still tweaking details of the order to...

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