Avado Brands seeks extension to exclusivity to file a plan, solicit votes

By Jeff Pines

Washington, Aug. 19 - Avado Brands Inc. asked the U.S. Bankruptcy Court for the Northern District of Texas Wednesday to extend its exclusive right to file a reorganization plan to Jan. 31 and its exclusive right to solicit votes for the plan to March 31.

Its existing exclusive periods end Sept. 30 and Nov. 30.

Avado, a Madison, Ga.-based restaurant company, said it needs more time to determine if an overhaul of its Hops brand and the remodeling for its Don Pablo brand restaurants is successful.

So far, Avado has converted one Hops restaurant from a restaurant built around a brewery to a city grill-style eatery. Though it is too soon to tell, the early results are encouraging, the company said.

It wants to convert another Hops before the end of the year. With more time, Avado will be able to tell whether the new concepts works, it said.

Avado filed for bankruptcy on Feb. 4. Its Chapter 11 case number is 04-31555.

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