The owner of vegan restaurant chain By Chloe has named its bankruptcy lenders as the lead bidders to acquire its assets out of chapter 11, with hopes to get the proposed sale approved by next week, the WSJ Pro Bankruptcy reported. The chain’s bankrupt parent BC Hospitality Group Inc., designated a group of investors as the stalking horse bidders, according to records filed on Saturday in the U.S. Bankruptcy Court in Wilmington, Del., setting the minimum price for other potential bidders to beat. Under the agreement, the stalking horse bidders would acquire 100% of the equity interests of the company in exchange for a credit bid, equal to the $3.25 million in bankruptcy financing they provided, according to court papers. The investor group includes Qoot International UK Ltd., along with equity investor Kitchen Fund LP, private-equity firms Lion Capital LLP, investment firm Bain Capital LP, and venture-capital firm Simple Capital Management LLC.
