Out West Restaurant Group seeks Chapter 11 relief as parent agrees to buy its 61 Outback locations
Business · First reported 6 Nov, 22:58 · Updated 00:10
Out West Restaurant Group filed for Chapter 11 protection while seeking authorization to sell its assets. Bloomin’ Brands agreed to buy the franchisee’s 61 Outback locations for $26.3 million and provide up to $5.5 million in interest-free financing.
- Out West Restaurant Group, also known as Cerca Trova Restaurant Group, filed for Chapter 11 protection and is seeking court approval to sell its assets.
- The company operates 61 Outback Steakhouse locations across five states, down from 99 restaurants at its peak in 2018.
- Bloomin’ Brands agreed to buy the remaining 61 locations for $26.3 million and provide up to $5.5 million in interest-free debtor-in-possession financing.
Summary written by Lux AI from 2 articles
Key facts
- Chapter 11 debt cited
- $449 million
- Restaurants operated
- 61 across California, Arizona, Colorado, Nevada, and New Mexico
- Peak restaurant count
- 99 in 2018
- Bloomin’ Brands purchase agreement
- $26.3 million for the remaining 61 locations
- Debtor-in-possession financing
- Up to $5.5 million, interest-free
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