Houston — SPB Hospitality, an industry-leading operator and franchisor of restaurants spanning a national footprint, has appointed Josh Kern as chief executive officer. He was named interim CEO in August of 2022. SPB Hospitality encompasses a wide array of brands in the casual, fast-casual, quick-service and fine dining categories, as well as bars and breweries. Kern steered the company’s merger with Krystal, the original quick-service slider concept in the South. Furthermore, he has blended the companies while streamlining costs and launched the first major refranchising effort for the Krystal brand. …
Fortress Investment Group
Alamo Drafthouse Cinema Files for Chapter 11 Bankruptcy, Enters into Asset Purchase Agreement
Austin, Texas — Alamo Drafthouse Cinema has filed for Chapter 11 bankruptcy protection and entered into an asset purchase agreement with its group of senior lenders that is led by California-based Altamont Capital Partners and Fortress Investment Group. The agreement involves the sale of “substantially all” of the company’s assets, though it remains unclear how many of its 41 theaters Alamo Drafthouse plans to close. As part of its filing, Alamo Drafthouse has asked the U.S. Bankruptcy Court for the District of Delaware to approve a 75-day timeline for restructuring its …
Seattle — Sur La Table, a leading retail destination since 1972 for those passionate about cooking and entertaining, has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to restructure and sell 70 stores to Fortress Investment Group. According to The Wall Street Journal, Sur La Table will close its remaining 51 stores. Sur La Table has entered into a stalking horse asset purchase term sheet with affiliates of Fortress Investment Group, which is working in partnership …