Houlihan’s cancels auction, will seek approval of $40 million sale

By Caroline Salls

Pittsburgh, Dec. 17 – Houlihan’s Restaurants, Inc. cancelled the Dec. 18 auction for its assets and will ask the U.S. Bankruptcy Court for the District of Delaware to approve a $40 million sale to stalking horse bidder Landry’s LLC, according to a notice filed Tuesday.

Houlihan’s said it did not receive any other qualified competing bids for the assets.

The sale hearing is scheduled for Dec. 20.

Leawood, Kan.-based Houlihan’s operates a chain of restaurants. The company filed bankruptcy on Nov. 14 under Chapter 11 case number 19-12415.

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