Bloomin' Brands Agrees to Stalking Horse Bid for Assets of Largest Franchisee Out West
Bloomin' Brands (BLMN) has entered into an agreement to act as the stalking horse bidder for substantially all assets held by Out West, its largest franchisee. This move follows Out West's recent filing for Chapter 11 bankruptcy protection. By positioning itself as the lead bidder in the bankruptcy proceedings, Bloomin' Brands aims to secure the operational assets of its primary franchise partner. The outcome of this process will likely determine the future stability of the brand's regional footprint and its relationship with key operators.
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Topics: acquisition bankruptcy franchisee