16 Hrs
Source:
Fox News
Outback Operator Bankrupt
Out West Restaurant Group, which operates 61 Outback Steakhouse restaurants across the western United States, filed for Chapter 11 bankruptcy protection in Delaware on Monday. Bloomin’ Brands has agreed to buy the franchisee’s assets for about $26.3 million and provide up to $5.5 million in interest-free financing, subject to court approval. Out West plans to keep operating during the proceedings, and Bloomin’ Brands said there would be no immediate impact on customers, employees or daily operations.
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