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RELATED: Joe's Crab Shack operator snubs Tilman Fertitta's Landry's bid in bankruptcy plan Ignite then chose KRG, the California private equity firm, as its preferred bidder and filed for Chapter 11 bankruptcy protection to facilitate the sale.
The company insisted it attempted to renegotiate with Landry's, only to be snubbed by Fertitta when it suggested a higher price.
In the documents released Monday, Ignite said it expects the prospective buyer of its assets "may want to hire many of Ignite's employees," but it could not guarantee that.
We've compiled the biggest layoffs in Texas for 2017 per the WARN ...
more Ignite Restaurant Group, the Houston-based operator of Joe's Crab Shack and Brick House Tavern & Tap, is preparing to lay off 87 people in its corporate headquarters as the company goes through Chapter 11 bankruptcy, according to documents released Monday by the Texas Workforce Commission.
Landry's in June announced a bid to acquire Ignite for million in an attempt to unseat a California private equity group that had offered million for both brands.
The offer set off a series of snarky exchanges between attorneys for Landry's and Ignite, which fiercely resisted Fertitta's advances for weeks.