Outback Steakhouse's Largest US Franchisee Files for Bankruptcy
Summary
Out West Restaurant Group, Outback Steakhouse’s largest U.S. franchisee, filed for bankruptcy protection in Delaware. Its 61 restaurants may change ownership, with parent company Bloomin’ Brands poised to acquire them.Key Facts
- Out West Restaurant Group filed for bankruptcy protection on Monday in the U.S. Bankruptcy Court for the District of Delaware.
- The filing estimated the company’s assets and liabilities at between $10 million and $50 million.
- The company listed 30 current creditors.
- Court records say Out West operates 61 Outback restaurants.
- The restaurants are in California, Arizona, Colorado, Nevada and New Mexico.
- Bloomin’ Brands, Outback Steakhouse’s parent company, is poised to acquire the restaurants.
- Newsweek said it contacted Bloomin’ Brands for comment.
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