Food Industry
Industry: Email Alert RSS FeedLone Star offers plan to buy Texas Land & Cattle
Nation's Restaurant News, Dec 22, 2003
WICHITA, KAN. -- Lone Star Steakhouse & Saloon Inc. proposed a plan to obtain the 20unit Texas Land & Cattle Steak House casual-dining chain by buying its parent company, TXCC Inc. of Dallas, and two affiliates, which filed for reorganization in U.S. Bankruptcy Court for the Northern District of Texas.
Wichita-based Lone Star's proposal to the court reportedly would offer TXCC's creditors the option of taking unspecified payments in cash or Lone Star stock.
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Publicly held Lone Star owns and operates 249 domestic and 19 international Lone Star Steakhouse & Saloon restaurants, 15 Sullivan's Steakhouses, five Del Frisco's Double Eagle Steak Houses and one Frankie's Italian Grille. It also licenses three domestic and one international Lone Stars and one domestic Del Frisco's branch.
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