{"id":8034,"date":"2026-11-03T20:37:25","date_gmt":"2026-11-03T20:37:25","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=8034"},"modified":"2026-11-03T20:37:25","modified_gmt":"2026-11-03T20:37:25","slug":"bloomin-brands-moves-to-buy-61-outback-steakhouse-restaurants-after-franchisee-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=8034","title":{"rendered":"Bloomin’ Brands moves to buy 61 Outback Steakhouse restaurants after franchisee bankruptcy"},"content":{"rendered":"
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California Pizza Kitchen co-founder Rick Rosenfield told Fox News Digital how two former prosecutors built a pizza empire and how he believes the iconic chain is moving towards a ‘new glory.’<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Outback Steakhouse parent company Bloomin’ Brands is moving to acquire 61 restaurants operated by a major franchisee that filed for Chapter 11 bankruptcy protection.<\/p>\n
Out West Restaurant Group, which operates Outback Steakhouse locations across the western United States, filed for bankruptcy protection in Delaware on Monday, according to a filing with the Securities and Exchange Commission.<\/p>\n
Bloomin’ Brands has entered into an agreement to purchase Out West’s assets for approximately $26.3 million, subject to certain adjustments and the assumption of specified liabilities.<\/p>\n
MCDONALD’S DEALT LEGAL SETBACK AS JUDGE ALLOWS MCRIB MEAT LAWSUIT TO PROCEED<\/strong><\/p>\n
The company is expected to serve as the “stalking-horse” bidder in the bankruptcy sale process, establishing an initial offer that other potential buyers can seek to exceed. The transaction remains subject to bankruptcy court approval.<\/p>\n
Bloomin’ Brands also agreed to provide up to $5.5 million in interest-free debtor-in-possession financing to support Out West’s operations during the Chapter 11 proceedings, subject to court approval.<\/p>\n
Customers enter an Outback Steakhouse restaurant at the Queens Place Mall in the Queens borough of New York, U.S., on Friday, Nov. 9, 2012.<\/span> (Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n
Out West intends to continue operating its restaurants throughout the bankruptcy process, according to the SEC filing.<\/p>\n
Bloomin’ Brands said the filing would have no immediate impact on customers, restaurant employees or daily operations at the affected Outback Steakhouse locations.<\/p>\n
The bankruptcy involves restaurants operated by the franchisee rather than Bloomin’ Brands’ corporate-owned locations.<\/p>\n
Out West is affiliated with Cerca Trova Restaurant Group, which has operated Outback Steakhouse restaurants across several western states, including California, Arizona, Nevada, Colorado and New Mexico.<\/p>\n
The proposed acquisition could bring the franchisee-operated restaurants under Bloomin’ Brands’ control if the company prevails in the court-supervised sale process.<\/p>\n
CLICK HERE TO GET FOX BUSINESS ON THE GO<\/strong><\/p>\n
Bloomin’ Brands also owns Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar.<\/p>\n
Reuters contributed to this report.\u00a0<\/i><\/p>\n<\/div>\n
California Pizza Kitchen co-fo… <\/p>\n","protected":false},"author":1,"featured_media":8035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[7051,10999,923,152,8146,360,11000,676,3652],"class_list":["post-8034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-bankruptcy","tag-bloomin","tag-brands","tag-buy","tag-franchisee","tag-moves","tag-outback","tag-restaurants","tag-steakhouse"],"yoast_head":"\n
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