Fox & Hound, Champps Parent Plans $125M Sale In Ch. 11

Law360, Wilmington (February 10, 2014, 6:37 PM EST) -- Bankrupt F&H Acquisition Corp., parent of the Fox & Hound and Champps chains, said Friday it has scrapped plans for a March auction and will instead sell itself to junior lenders led by Cerberus Business Finance LLC in a private deal valued at more than $125 million.

F&H had sought a suitor for nearly a year before reaching the deal with its second lien lenders and said it was convinced that marketing the company for another month would not produce a superior offer, according to a motion filed in Delaware court.

Under the deal, the Cerberus-led group will pay $14.5 million...

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