Law360 Mentions Kelley Drye’s Representation of Unsecured Creditors Committee in Bar Louie Bankruptcy
March 3, 2020
Bankruptcy and Restructuring practice group chair Eric Wilson, partner Jason Adams and senior associate Lauren Schlussel were mentioned in Law360 article, “Bar Louie Del. Ch. 11 Sale Plans OK'd After Breakup Fee Trim.” Bankrupt gastropub chain Bar Louie secured a Delaware bankruptcy judge's approval for its sale procedures Thursday, after applying a $1.4 million cut to a "breakup" fee for the debtor's stalking horse in case its $82.5 million credit bid is beaten.
 
Bar Louie is a 29-year-old chain which operates 72 company-owned and 24 franchised sites in 26 states, after closing 38 locations immediately before filing. The company and its affiliates filed Chapter 11 in late January, stating that dozens of underperforming sites in its 134-location business had dragged down a company already challenged by declining casual dining traffic.
 
The committee is represented by Eric, Jason and Lauren.

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