Claim Jumper Completes Asset Sale Auction
Landry’s Submits Highest and Bets Bid Valued at $76.6 Million
October 30, 2010 11:47 PM Eastern Daylight Time
IRVINE, Calif.--(EON: Enhanced Online News)--Claim Jumper Restaurants, LLC (the “Company”)
announced today that Landry’s Restaurants, Inc. has been selected as the highest and best bidder in a competitive
auction held October 28, 2010 for substantially all of its assets. Landry’s final bid has been valued by the Company
and the Official Committee of Unsecured Creditors at $76.6 million. The proposed sale to Landry’s is expected to
be approved by the Bankruptcy Court in Wilmington, Delaware on November 2, 2010. The transaction is expected
to close on a date mutually agreeable to the Company and Landry’s, subject to satisfaction or waiver of customary
Piper Jaffray & Co. serves as exclusive financial advisor and Milbank, Tweed, Hadley & McCoy serves as lead
counsel to Claim Jumper in its sale process.
About Claim Jumper
Inspired by California’s Gold Rush history, Claim Jumper Restaurants opened its first location in Los Alamitos, Calif.
in 1977. Today, the casual dining concept is an established family favorite, operating 45 restaurants throughout the
West Coast and parts of the Midwest. With a modern twist on traditional American cuisine and a full-service saloon,
the chain’s extensive menu offers a wide variety of food and beverage choices using only the finest, freshest
ingredients available. Claim Jumper Restaurants accept reservations and are open daily for lunch and dinner. For
more information please visit www.claimjumper.com.
Anita-Marie Laurie or Maya Pogoda