Claim Jumper Restaurants Reaches Asset
Purchase Agreement with Private Capital Partners
Proposed Purchase to be Completed Through Pre-Arranged Chapter 11 Proceeding; Transaction to
Eliminate Debt
Operations to Continue Without Interruption During Sale Process
September 10, 2010 07:30 AM Eastern Daylight Time
IRVINE, Calif.--(EON: Enhanced Online News)--Claim Jumper Restaurants, LLC (the “Company”), today
announced that it has entered into an Asset Purchase Agreement (APA) with Private Capital Partners, an affiliate of
Canyon Capital Advisors LLC (“Canyon Capital”), to sell substantially all of its assets and operations. The
Company operates 45 Claim Jumper Restaurants in eight states. Canyon Capital is a leading alternative asset
manager headquartered in Los Angeles, California with approximately $18 billion in assets under management.
Private Capital Partners is an existing investor in the Company.
In accordance with the terms of this agreement and to facilitate the sale transaction, the Company and its subsidiary
filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Court for the District of
Delaware in Wilmington. Claim Jumper Restaurants is expected to emerge from Chapter 11 in approximately 60 to
75 days with new ownership and a significantly strengthened balance sheet. As a result of this transaction, the
business will be adequately capitalized and debt-free.
“This transaction represents a great outcome for our company, our loyal guests, our employees and our valued
business partners,” said Chief Executive Officer Mark Augarten. “We are excited about the prospect of quickly
implementing the sale through the Chapter 11 process which will allow us to emerge within two months as a
company with zero debt, thereby providing the recapitalized business with stability and greater financial flexibility to
promote future growth and success.”
“Claim Jumper is one of America’s great restaurant chains with a long heritage in its communities, extremely loyal