Sports Bar Chains Fox & Hound, Champps Shut Down 25 of Its Branches

by San Antonio Attorney

The owner of Fox & Hound and Champps has closed 25 of its branches, according to court documents.

The owner of sports bar chains Fox & Hound and Champps stopped the operations of 25 locations, even as the company received a lifeline that will enable it to operate long enough to be put up for sale, according to bankruptcy filing.

Last Call Guarantor LLC, was saved Kelly Investment Group, a private equity firm specializing in restructuring.

Kelly Investment Group, a private-equity firm out of California that specializes in restructurings, has emerged to keep the chains’ owner, Last Call Guarantor LLC, from being shut down.

Without Kelly Investment Group’s support, the maintenance of operations by the end of the month will not be possible by available cash alone.

Last Call’s recent bankruptcy filing is not its first time.  It filed for bankruptcy protection last 2013, the company requested federal debt protection with a total of $117 million of debt.

The company’s reason for its financial troubles was due to a multitude of problems and wrong decisions.  One of these wrong decisions was its increasingly high turnover after the workers were shifted from full time employees to part time due to meticulous health care requirements.

Last Call is controlled by DMV Maple Investments after undergoing a total acquisition of the company.

Last Call has searched for a potential buyer since June of this year.  An interested buyer is currently collaborating with Antares Capital, the official lender of the company.  The buyer’s have also agreed to assume the company’s debt.

With this move, Kelly Investment Group was placed as a frontliner for Last Call’s bankruptcy.  Lenders placed in first lien are given the first priority to be paid back during the bankruptcy filing.

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