Tennenbaum, Others Win Real Mex Asset Auction
Real Mex noteholders, consisting of Tennenbaum Capital Partners, Z Capital Partners and J.P. Morgan Investment Management affiliates, have won the auction to acquire Real Mex Restaurants’ assets. As previously announced, the company’s board approved the noteholders’ bid, which was an $80 million credit bid for the company’s second lien notes and $49 million in cash, an article on www.costar.com said.
Real Mex has also asked the bankruptcy court to allow it to cancel leases on 11 of its restaurants. The company “abruptly” closed ten restaurants in early March, the article said.
To read the article in its entirety, click here.
Real Mex Restaurants is a full-service, casual dining Mexican restaurant chain operator in the United States.
Previously on abfjournal.com: