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Ignite Restaurant Group Sale Approved

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The U.S. Bankruptcy Court issued an order approving the asset purchase agreement and authorizing the sale of assets of the Debtors outside the ordinary course of business, authorizing the sale of assets free and clear of all liens, claims, encumbrances and interests, and authorizing the assumption and sale and assignment of certain executory contracts and unexpired leases. As previously reported, “At the conclusion of the Auction, the Debtors, after consultation with the Consultation Parties, determined that the bid submitted by Landry’s, Inc. of $57,000,000 is the Prevailing Bid and Landry’s, Inc. is the Prevailing Bidder.”