Buffets receives court approval of $700,000 property sale

By Caroline Salls

Pittsburgh, Jan. 8 - Buffets Holdings, Inc. obtained court approval of the $700,000 sale of its Fairfield, Ohio, Fire Mountain property to SBC Investments LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, the property is not a core component of Buffets' long-rate business strategy, and it is an economic and administrative burden.

Buffets Holdings, a steak-buffet restaurant company based in Eagan, Minn., operates restaurants under the names Old Country Buffet, HomeTown Buffet, Ryan's and Fire Mountain. The company filed for bankruptcy on Jan. 22, 2007, and its Chapter 11 case number is 08-10141.

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