June 24, 2017 2:41 PM ET

Hotels, Restaurants and Leisure

Company Overview of Garden Fresh Promotions, LLC

Company Overview

Garden Fresh Promotions, LLC owns and operates restaurants. The company is based in San Diego, California. The company operates as a subsidiary of Garden Fresh Restaurant Corp.

15822 Bernardo Center Drive

Suite A

San Diego, CA 92127-2320

United States

Phone:

800-874-1600

Fax:

858-675-1032

Key Executives for Garden Fresh Promotions, LLC

Garden Fresh Promotions, LLC does not have any Key Executives recorded.

Garden Fresh Promotions, LLC Key Developments

Motion for Asset Sale Approved for Garden Fresh Restaurant Intermediate Holding, LLC

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Garden Fresh Restaurant Intermediate Holding, LLC on January 9, 2017. The debtor has been authorized to sell substantially all its assets to GFRC Acquisition LLC, the stalking horse bidder. The debtor did not receive any other competing bids for the purchase of its assets and therefore GFRC Acquisition LLC emerged as the winning bidder.

Amended DIP Financing Approved for Garden Fresh Restaurant Intermediate Holding, LLC

The US Bankruptcy Court gave an order approving the amendments to DIP financing agreement for Garden Fresh Restaurant Intermediate Holding, LLC on December 30, 2016. As per the order, the debtor has been authorized to obtain a term loan in an additional amount of $2.5 million from Ares Capital Corporation, Cerberus ASRS Holdings LLC, Cerberus Levered Loan Opportunities Fund II, LP (fund of Cerberus Capital Management, L.P.) and Cerberus NJ Credit Opportunities Fund, L.P. The total DIP financing obtained by the debtor would now be in the amount of $7 million. The DIP facility would now mature on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. All other terms of the DIP agreement shall remain unaltered.

Notice of Auction Cancellation filed by Garden Fresh Restaurant Intermediate Holding, LLC

Garden Fresh Restaurant Intermediate Holding, LLC filed a notice in the US Bankruptcy Court for the cancellation of auction for the sale of substantially all its assets on December 29, 2016. As per the notice filed, no qualified bids were received and therefore, the auction scheduled for January 3, 2017 has been cancelled and GFRC Acquisition LLC has been selected as the successful bidder. The sale hearing scheduled for January 9, 2017.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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