Outback Steakhouse franchisee files for bankruptcy, 61 locations to close

Summarised from 2 outlets · Updated 8 Nov, 17:54 · Archive

One of Outback Steakhouse's largest franchisees has filed for Chapter 11 bankruptcy and is seeking to sell 61 restaurants.

One of Outback Steakhouse's largest franchisees, Cerca Trova Restaurant Group Holdings, filed for Chapter 11 bankruptcy on 2 November. The company, operating as Out West Restaurant Group, is seeking to sell off 61 of its restaurants, which operate across Arizona, California, Colorado, Nevada and New Mexico. The move follows the closure of 10 restaurants between 11 and 25 October.

Bloomin' Brands, the parent company of Outback Steakhouse, signed a purchase agreement with Cerca Trova on 1 November to acquire all of the franchisee's assets for more than $26 million. The agreement, however, is subject to any competing higher offers, meaning other buyers could make bids for the restaurants during the bankruptcy process.

How it is being reported

• 60+ Outback Steakhouse locations to close after franchisee files for bankruptcy. Here’s whereOne of Outback Steakhouse’s largest franchisees has filed for bankruptcy.WSAZ · 8 Nov, 17:35
• 60+ Outback Steakhouse locations to close after franchisee files for bankruptcy. Here’s whereOne of Outback Steakhouse’s largest franchisees has filed for bankruptcy.WVVA · 8 Nov, 17:35

In this story: Cerca Trova Restaurant Group Holdings · Out West Restaurant Group · Outback Steakhouse · Bloomin' Brands · Arizona · California · Colorado · Nevada

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log