Bloomin' Brands, Inc. (BLMN) Form 8-K — Nov 2, 2026
Bloomin' Brands' largest disclosed franchisee event: Out West Restaurant Group, operator of 61 Outback Steakhouse restaurants in the western US, filed voluntary Chapter 11 petitions on November 2, 2026 in Delaware. Bloomin' Brands moved to secure the assets: it signed a stalking horse Asset Purchase Agreement on November 1, 2026 to buy substantially all Out West assets for $26.3 million (less DIP draws, plus a dollar-for-dollar increase if assumed vendor liabilities come in under $6.1 million), with a January 31, 2027 outside closing date. The bid remains subject to bankruptcy auction, higher competing offers, and court approval.
Key figures
- Debt Amount
- 5500000
- Deal Value Usd
- 26300000
- Dip Interest Rate
- 0% (no interest)
- Dip Initial Draw Usd
- 1500000
- Dip Cash Use Deadline
- 2027-01-04
- Outside Closing Date
- 2027-01-31
- Restaurants Affected
- 61
- Vendor Liabilities Threshold Usd
- 6100000
AI analysis
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