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Assets of Restaurant Businesses

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Assets of Restaurant Businesses



Price: Not Specified

Other Item Info
Item #: cacbke_1838171
Created: 10/12/2020
Category: Business Property > All Assets or Going Concerns > Restaurants
Sale Date: None Set
Seller Info
Ed Hays
Trustee's Attorney
870 Roosevelt Ave
Irvine, CA 92620
949-333-7777
Bankruptcy Info
Case #: 8:18-bk-13311
Case Title: Ruby's Diner, Inc., a California corporation
Court: California Central Bankruptcy Court
Chapter: 7
View Case Docket

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Description

Auction Sale of substantially all of assets of Ruby’s Diner, Inc., a California corporation (“RDI”); Ruby’s SoCal Diners, LLC, a Delaware limited liability company (“SoCal Diners”); Ruby Quality Diners, LLC., a Delaware limited liability company(“Quality”); Ruby’s Huntington Beach, Ltd., a California limited partnership (“RHB”); Ruby’s Laguna Hills, Ltd., a California limited partnership (“RHL”); Ruby’s Oceanside Ltd., a California limited partnership (“RO”); and Ruby’s Palm Springs, Ltd., a California limited partnership (“RPS”) (collectively the “RDI Sellers”). Such assets include, but are not limited to:

  • Marks and Intellectual Property: RDI owns varying percentages of and operates diners in Southern California through subsidiaries including through its wholly owned subsidiary, SoCal Diners. RDI and certain affiliates own, operate, and manage restaurants under trade names such as “Ruby’s®,” “Ruby’s® Diner,” and “The Ruby Restaurant Group.” RDI is the owner of the Ruby’s® trademarks, system, and intellectual property;
  • Licensing Agreement: RDI has entered into an Amended and Restated Trademark and Intellectual Property License Agreement, dated June 1, 1990 (“RDI/RFS License Agreement”) with Ruby’s Franchise Systems, Inc. (“RFS”) (a related Chapter 11 debtor) that permits RFS to serve as franchisor for various Franchisees. See, Declaration of Richard A. Marshack, Ex. “3” for RDI/RFS License Agreement. The RDI/RFS License Agreement entitles RDI is entitled to one percent (1%) of the Gross Sales generated by RFS and the Franchisees as a license fee (i.e., 25% of the Franchise Royalties paid to RFS) which historically averaged approximately Six Hundred Thousand Dollars ($600,000) per annum (assuming payment of Franchise Royalties by the Franchisees).
  • Lease Assets;
  • RDI’s 50% interest in Ruby’s SCP; and
  • FF&E of the various restaurant debtors including RHB and RO.

Additional Details

Bid Increment: $25,000
Bid Deposit: $250,000



Other Information

Terms and Conditions:

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