Matchbox gets court approval to sell assets to Thompson Hospitality

By Sarah Lizee

Olympia, Wash., Oct. 28 – Matchbox Food Group, LLC received court approval to sell substantially all of its assets under an asset purchase agreement with Thompson Hospitality Corp., according to an order filed Wednesday in the U.S. Bankruptcy Court for the District of Maryland.

As previously reported, Matchbox entered into the agreement with Thompson Hospitality for a one-time payment of $11.55 million, subject to adjustment.

Additionally, the purchaser has agreed to pay a consulting fee in the amount of $550,000 at closing.

The sale agreement has some contingencies, including approval within 45 days of the effective date, subject to optional extension, and closing occurring by Nov. 17.

Matchbox is a Reston, Va.-based restaurant operator. The company filed Chapter 11 bankruptcy on Aug. 3 under case number 20-17250.

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