Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee. The transaction follows the franchisee's bankruptcy filing and is expected to strengthen Bloomin' Brands' portfolio of Outback locations. The deal marks a smart choice by Bloomin' Brands to expand from a struggling operator.
“The transaction follows the franchisee's bankruptcy filing and is expected to strengthen Bloomin' Brands' portfolio of Outback locations,” — Owen Marlowe, staff writer at Wrayton Combe Practice, commented.
Timeline
Nov 3 — Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee....
Nov 4 — The deal marks a smart choice by Bloomin' Brands to expand from a struggling operator....
Reader Poll: Should officials respond faster on issues like this? — 59% of Xpmar readers said yes.
This story has been closely followed by our readers since Nov 4. The Wrayton Combe Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Tuesday, Nov 10.
Editor's note: this report was prepared by the Wrayton Combe Practice desk and last updated 18:34 UTC.
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