Billionaire With a Taste for Casual Dining Offers $40 Million for Houlihan’s Restaurants

Nov 14, 2019 - Fortune

Houlihan’s Restaurants may become the latest chain of eateries scooped up out of bankruptcy by billionaire Tilman Fertitta.

The casual dining company filed for Chapter 11 protection in Delaware along with more than 30 affiliates. But Landry’s, the Houston-based restaurant group that operates Joe’s Crab Shack, Rainforest Cafe, and Morton’s steakhouses, has already offered to pay $40 million for the business and to assume certain liabilities, court documents show. Houlihan’s list...