Houlihan’s parent bankrupt, will sell to Landry’s
- Restaurant company Landry’s will take over the chain, including assuming certain liabilities.
- Houlihan’s parent HRI Holding has already closed 12 unprofitable locations, leaving it with 47 “polished-casual” outlets.
- 34 of those use the Houlihan’s name, and there are an addition 23 franchised locations.
- Other HRI brands include Bristol and J. Gilbert’s.
- Landry’s, which owns the higher end Morton’s The Steakhouse, McCormick & Schmick’s, Mastro’s and franchises Bubba Gump Shrimp Co., Rainforest Cafe, Joe’s Crab Shack and Claim Jumper among other brands.
- HRI has financing lined up to keep operations going until the transaction closes, which it expects to wrap up by the end of 2019.