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Landry’s was the sole bidder for the assets of HRI Holding Corp., the parent company of Leawood-based Houlihan’s Restaurants Inc. The company owns and operates 47 restaurants in 14 states and its brands include: Houlihan’s Restaurant + Bar, Bristol Seafood Grill, J. Gilbert’s Wood-Fired Grill, Devon Seafood Grill and Make Room for Truman. Eight of its restaurants are located in the Kansas City metro. Houston-based Landry’s, known for eateries such as Morton’s The Steakhouse and Bubba Gump Shrimp Co., bid $40 million for substantially all of HRI’s assets. The final purchase price, however, will be adjusted, according to court documents. Per the agreement, the price will be reduced based on pro-rated unpaid property taxes, pro-rated unpaid utilities and other items. Landry’s also will accept assumed liabilities such as worker’s compensation, accounts payable and as much as $3 million in gift card obligations. Bankruptcy judge Mary Wrath approved the agreement Saturday, and the sale is expected to close on Dec. 30. Landry’s owns and operates more than 600 restaurants, hotels, casinos and entertainment destinations. Some of its restaurant brands include Saltgrass Steak House, Joe’s Crab Shack and McCormick & Schmick’s. OpenTable’s top 20 Kansas City-area restaurants. – Source: Kansas City Business Journal.

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