Last Call Guarantor wins approval of $5.4 million DIP loan, cash use

By Caroline Salls

Pittsburgh, Sept. 19 – Last Call Guarantor, LLC obtained court approval to continue to use cash collateral and to obtain $5.4 million in debtor-in-possession financing from Fun Eats and Drinks LLC, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The financing will be used to support Last Call’s operations and its sale process.

The DIP loan will mature on the earliest of the closing date of a sale of all or substantially all of the company’s assets, Sept. 27, the acceleration of the debt and the effective date of a plan of reorganization.

Interest will accrue at a rate of 15%.

Last Call, the owner of Fox & Hound Restaurant, Bailey’s Sports Grille and Champps Kitchen, is a Dallas-based restaurant operator. The company filed bankruptcy on Aug. 10 under Chapter 11 case number 16-11844.

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