Jillian’s Entertainment
Jillian’s Entertainment Holdings, Inc. ("Jillian’s") operated a variety of multi-venue restaurant/entertainment units (the “Restaurants”) similar in nature to Dave & Busters. Charlie advised the company on all aspects of the Chapter 11 case, including the sale of the business pursuant to section 363 of the United States Bankruptcy Code.
RESULTS
Despite years of negative same-store comparables, Charlie was able to work with Jillian's management and the outside CRO to position the company for sale to two initial stalking horse bidders in a 363 sales process.
After contacting over 250 potential buyers in the secondary sales and auction, bids were obtained from multiple qualified bidders.
Following an active auction involving the formation of multiple bidding teams, the Restaurants were sold to the original stalking horse bidders, at an increase of approximately $25 million over the original stalking horse price, a premium of over 70%.