Perkins & Marie Callender's Gets Final OK On DIP Loan

Law360, Wilmington (September 11, 2019, 6:01 PM EDT) -- A Delaware bankruptcy judge on Wednesday approved bankrupt restaurant chain Perkins & Marie Callender's LLC's  $7.75 million Chapter 11 financing, which includes terms by which unsecured creditors are set to receive $800,000 and proceeds from the sale of certain assets.

At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross signed off on an order finalizing the debtor-in-possession financing, which is being administered by Bank of America NA, as Perkins & Marie Callender’s moves forward with plans to sell its assets, with stalking horse offers worth roughly $50 million in place.

Debtors’ attorney Scott L. Alberino of Akin Gump Strauss Hauer &...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS