Fun Eats and Drinks LLC, a company formed by San Diego-based private-equity firm Kelly Investment Group, won an auction last week to acquire the chains’ owner out of bankruptcy with its bid of $26.8 million, according to the trade publication’s web site, nrn.com.
Fox & Hound has two southwest Ohio locations — at the Mall at Fairfield Commons in Beavercreek, and in Deerfield Twp. in Butler County — which remain open. The company shut down a Champps location in West Chester earlier this month (see below). In 2014, a Champps location in Washington Twp. east of the Dayton Mall shut down abruptly, laying off 65 employees.
The bid by Fun Eats and Drinks has not yet been approved by a bankruptcy court. A spokeswoman for Last Call confirmed that Fun Eats is the buyer, but would not comment further because the deal hasn’t closed.
The move follows a decision in August by the Dallas-based parent company of the Champps and Fox & Hound sports bar chains to file for bankruptcy reorganization. That Chapter 11 filing preceded the closure of 25 of the company’s locations nationwide.
>> Owner of 2 restaurant chains files for bankruptcy
SEPT. 14:
The Champps sports bar in Butler County’s Streets of West Chester development has shut down, an apparent victim of its parent company’s ongoing Chapter 11 reorganization bankruptcy filing.
A large chalkboard behind the sports bar’s glass front door at 9424 Civic Centre Blvd. reads “Thanks for the memmories (sic). Closed.” The exterior signage on the front of the restaurant also been removed.
The move follows last month’s decision by the Dallas-based parent company of the Champps and Fox & Hound sports bar chains to file for bankruptcy reorganization. That Chapter 11 filing preceded the closure of 25 of the company’s locations nationwide. The company did, however, secure financing that was designed to act as a lifeline to operate until the chains can be put up for sale, the trade publication Nation’s Restaurant News reported two weeks ago.
>> RELATED: Owner of 2 restaurant chains files for bankruptcy
Fox & Hound has two southwest Ohio locations — at the Mall at Fairfield Commons in Beavercreek, and in Deerfield Twp. in Butler County — which remain open.
In 2014, a Champps location in Washington Twp. east of the Dayton Mall shut down abruptly, laying off 65 employees. That sports bar, located on 7880 Washington Village Drive, was replaced by Chappys Social House in 2015.
>> RELATED: Fox & Hound, Champps owner shuts down 25 locations
A spokesman for the chains’ parent company told NRN on Aug. 30 that the initial wave of closings had left 37 Fox & Hound location and 14 Champps still open nationwide. Another line of bars owned by the company, Bailey’s, was reduced from nine to four locations.
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