WILMINGTON, Del. — Claim Jumper Restaurants, operator of a Western-themed restaurant chain, won court approval to sell its assets to Landry’s Restaurants in a deal valued at about $76.6 million.
U.S. Bankruptcy Judge Kevin Gross said he would allow Claim Jumper to complete the sale after minor changes were added at a hearing Tuesday.
“We were very pleased with the outcome of the auction,” Robert Moore, a lawyer for Claim Jumper, told Gross.
Landry’s, the Houston- based seafood chain, won an Oct. 28 auction that lasted more than nine hours and more than 100 rounds of bidding, court papers show. Landry’s will pay $48.3 million in cash, take on as much as $23.3 million in Claim Jumper debt and provide $5 million in cash to collateralize existing letters of credit.
The sole Claim Jumper in Colorado, at 7407 Park Meadows Drive in Lone Tree, closed Friday. Requests for comment were not returned. A woman answering the restaurant’s phone said she didn’t know why the location was closed.
Landry’s operates several restaurants in the Denver metro area, including Landry’s, Willie G.’s, Saltgrass Steakhouse, Chart House and Simms Steakhouse. The company also owns the Downtown Aquarium.
Landry’s bought the assets of Oceanaire Inc. out of bankruptcy in April for about $23.4 million, according to a company statement. Oceanaire has one restaurant in Denver.
Chief executive Tilman Fertitta took that seafood chain private for $24.50 a share last month, the company said.
Staff writer Ann Schrader contributed to this report.
