client_transactions

SSG Client Transactions

Title

Last Call Holdings, LLC
Client Profile

Client Profile

Last Call Holdings, LLC (“Last Call” or the “Company”) operates two uniquely positioned and complementary concepts with successful track records in the social destination casual dining restaurant space. The Fox & Hound concept, which includes Bailey's Sports Grille in select markets, offers guests an energetic and social atmosphere with state-of-the-art audio visual entertainment, multiple billiards tables and additional skill games. The Champps concept offers guests a comfortable atmosphere that promotes social interaction and is positioned as an energetic, premium sports bar and grill with an extensive menu of freshly prepared "from scratch" items.
Situation

Situation

After being acquired out of bankruptcy in early 2014, Last Call began to implement an operational restructuring plan which included store remodeling, brand conversions, rationalized menus and streamlined operations. A revised plan was implemented in Q4 2014, focused on enhancing the Company's marketing capabilities and improving four wall performance. After considerable success in 2015, constrained liquidity and slower foot traffic led to a decline in the Company's performance during the first half of 2016.
Solution

Solution

In order to continue operations through the slow summer season, the Company needed to secure additional financing. SSG was retained in June 2016 to evaluate strategic alternatives and was able to facilitate a sale of the senior secured debt to Kelly Investment Group (“Kelly”), a strategic purchaser that was also willing to provide debtor-in-possession financing. The Company filed for Chapter 11 protection in August 2016. SSG conducted an expedited and comprehensive marketing process, which generated a competitive environment at the auction where a bid from Kelly was ultimately deemed the highest and best offer. SSG's ability to solicit offers in a fast-tracked process and its experience with Section 363 sale processes enabled the Company to maximize value while preserving jobs and maintaining the loyalty of vendors and customers.
October 2016
has sold substantially all of its assets to an affiliate of
Under Section 363 of the U.S. Bankruptcy Code in the
U.S. Bankruptcy Court for the District of Delaware
The undersigned acted as Investment Banker to
Last Call Holdings, LLC on this transaction

Call to learn more

Call to learn more

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(610) 940-1094

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(212) 786-7432

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