Acon Investments LLC, the buyout firm that owns a bankrupt Applebee’s franchisee, wants to recapitalize the restaurant operator while also leaving the door open for a new bidder to emerge in the chapter 11 proceedings, a lawyer for the franchisee said.
The disclosure came during a hearing Thursday in U.S. Bankruptcy Court in Wilmington, Del., during which RMH Franchise Holdings Inc. faced off against Bank of America NA, which leads a group of secured lenders.
...