Judge Approves Deel Sale
Posted on Apr 11, 2011 8:45pm PDT
A bankruptcy judge has reportedly approved the sale of Deel LLC to Luby's Inc., a Houston-based restaurant operator. Deel reportedly owns Fuddruckers and Magic Brands. Deel was sold to the company last year at auction for $63.5 million, but the courts needed to approve the sale as it was reported that there were irregularities at the auction. Deel reportedly filed
Chapter 11 with assets at $10 million and liabilities at $50 million.
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