Landrys buys Claim Jumper Assets

Hospitality Business News -Claim Jumper Restaurants, LLC announced today that Landry’s Restaurants, Inc. has been selected as the highest and best bidder in a competitive auction held October 28, 2010 for substantially all of its assets. Landry’s final bid has been valued by the Company and the Official Committee of Unsecured Creditors at $76.6 million. The proposed sale to Landry’s is expected to be approved by the Bankruptcy Court in Wilmington, Delaware on November 2, 2010. The transaction is expected to close on a date mutually agreeable to the Company and Landry’s, subject to satisfaction or waiver of customary closing conditions.