This is a public record generated listing.
Assets of Restaurant, Bar, Bowling and Entertainment Business
Listing Information
Attachments
Assets of Restaurant, Bar, Bowling and Entertainment Business
Price: Not Specified
Other Item Info
Item #: debke_183715
Created: 01/30/2021
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Wilmington, Delaware
Sale Date: Tue. Mar 9, 2021
Created: 01/30/2021
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Location: Wilmington, Delaware
Sale Date: Tue. Mar 9, 2021
Seller Info
Jeffrey R. Waxman
Debtor's Attorney
500 Delaware Avenue, Suite 1500 P.O. Box 2306
Wilmington, DE 19801
302-888-5842
Debtor's Attorney
500 Delaware Avenue, Suite 1500 P.O. Box 2306
Wilmington, DE 19801
302-888-5842
Bankruptcy Info
Case #: 1:20-bk-13157
Case Title: PBS Brand Co., LLC
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: PBS Brand Co., LLC
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket
Description
Auction Sale of substantially all of assets of PBS Brand Co., LLC et al., (collectively, the “Sellers”) (including, for the avoidance of doubt, any causes of action belonging to the sellers, rights under leases or other contracts, and intellectual property rights or other intangible assets) (the “Assets”).
The sellers are a chain of “eatertainment” venues that blends best in category scratch-kitchen culinary specialties, and industry leading craft cocktail and craft non-alcoholic programs.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
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Asset and Liability Summary ($)
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Inventory:
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Real Estate:
Total Assets:
Liabilities to assume:
Sale Location
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Wilmington, DE, 19801
Additional Details
- Auction Time: 10:00 a.m.
- Sale Hearing Held on March 10, 2021 at 10:00 a.m.
- Purchase Price: Purchase Price” means a dollar amount at least equal to the sum of (i) the amount of the Prepetition Secured Debt (as defined in the DIP Credit Facility) estimated to be $21,194,462.39, plus (ii) the DIP Obligations estimated to be $11,212,000, plus the Assumed Liabilities (together, the “Base Purchase Price”). The Purchase Price shall be satisfied as follows: The Base Purchase Price will be payable by a credit bid or assumption by the Buyer of (x) up to the full amount of the DIP Obligations, plus (y) up to the full amount of the Prepetition Liabilities, plus (z) CrowdOut’s fees and expenses under the Loan Agreement and the DIP Credit Facility; and The Assumed Liabilities shall be satisfied by assuming such Assumed Liabilities through one or more Assignment and Assumption Agreements or as otherwise required by an order of the Bankruptcy See Stalking Horse Term Sheet
- Bid Increment: $100,000
- Bid Deposit: 10% of the proposed purchase price
- Bid Deadline: March 8, 2021
- Last date to respond: March 8, 2021