June 27, 2017 5:32 PM ET

Hotels, Restaurants and Leisure

Company Overview of OCB Restaurant Company, LLC

Company Overview

OCB Restaurant Company, LLC, doing business as Old Country Buffet, owns and operates a chain of restaurants. It sells gift cards online. The company was incorporated in 2005 and is based in Hollywood Park, Texas with various locations in the United States. OCB Restaurant Company, LLC operates as a subsidiary of Buffets Holdings, Inc.

120 Chula Vista

Hollywood Park, TX 78232

United States

Founded in 2005





Key Executives for OCB Restaurant Company, LLC

General Manager of Bellingham Old Country Buffet
Compensation as of Fiscal Year 2016.

OCB Restaurant Company, LLC Key Developments

Second Amended Reorganization Plan Approved for Ovation Brands, Inc.

The US Bankruptcy Court approved the second amended plan of reorganization of Buffets, LLC on April 27, 2017. The debtor has filed its amended plan in the Court on April 4, 2017. As per the amended plan, the administrative claims and professional fee claims will be paid in full in cash. The other secured claims and property claims will be paid in full. ACE Claims will be paid in full in cash and retain the collateral, respectively. The letter of credit claims will be issued new security agreement and payment will be made as per the agreement terms The general unsecured claims of ranging between $100- $115 million will have an estimated recovery of 10% of the allowed claims. The convenience claims will have an estimated recovery of 50% and maximum on pro rata distribution $0.43 million. The equity interest holders will retain their equity interests. The plan will be funded from cash in hand and issuance of new and modified notes to claim holders.

Motion for Asset Sale Rejected for Ovation Brands, Inc.

The US Bankruptcy Court gave an order denying the sale of substantially all the assets of Buffets, LLC on April 4, 2017. The motion was dismissed as moot. The motion for the asset sale was filed by the debtor on October 27, 2016.

Second Amended Reorganization Plan Filed by Ovation Brands, Inc.

Buffets, LLC filed second amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on April 4, 2017. There were no changes in the treatment of all classes of claims.

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Recent Private Companies Transactions

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