Highest and Best Bids for Jillian's Total Approximately $65 Million
22 Septiembre 2004 - 6:35PM
PR Newswire (US)
Highest and Best Bids for Jillian's Total Approximately $65 Million
LOUISVILLE, Ky., Sept. 22 /PRNewswire/ -- Jillian's Entertainment
Holdings, Inc. and its affiliates conducted an auction on September
21, 2004 to sell substantially all of their assets. The highest and
best bid was jointly submitted by Dave & Buster's Inc.
(NYSE:DAB) and Gemini Investors III, L.P. for approximately $65
million. Both Dave and Buster's Inc. and Gemini Investors III, L.P.
initially submitted "stalking horse" bids when Jillian's filed for
bankruptcy under Chapter 11 of the U.S. Bankruptcy Code on May 23,
2004. The auction was conducted pursuant to bidding procedures
approved under Section 363 of the U. S. Bankruptcy Code. The U.S.
Bankruptcy Court for the Western District of Kentucky in Louisville
has tentatively scheduled a hearing for tomorrow, Thursday,
September 23, to approve the sale. The parties intend to close the
sale by the end of October, pending U.S. Bankruptcy Court approval.
DATASOURCE: Jillian's Entertainment Holdings, Inc. CONTACT: Tom
Andrzejewski or Rob Falls, of Robert Falls & Co. Public
Relations, +1-216-696-0229, or cell, +1-216-509-5789
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