Village Inn Parent Co. Sells 34 Locations In Ch. 11 Deals

Law360 (July 21, 2020, 5:00 PM EDT) -- American Blue Ribbon Holdings LLC, the parent company of restaurant chain Village Inn, received court approval Tuesday from a Delaware bankruptcy judge for a pair of Chapter 11 asset sales that will see existing franchisees of the chain acquire 34 restaurants.

During a hearing conducted via phone and video conferencing, U.S. Bankruptcy Judge Laurie Selber Silverstein approved the deals that will transfer three Florida restaurants to LDL Holdings Inc. in exchange for $300,000 and the assumption of liabilities currently held by the debtor, and another 31 locations spread across the country to Walker-DSC Capq LLC for a purchase price of $1.24...

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