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Is Tilman Fertitta going to Buy out Tom Douglas?

Image result for tilman fertittaRestaurants Unlimitted, a more or less high priced Seattle Restaurant chain (Palomino, Palisade and more than two dozen other restaurants in the Pacific Northwest).went toes up!  It looks like it is going to get bought out by

Tilman Fertitta

Tilman is CEO and owner of Landry’s, a humongous chain that incoludes Morton’s.  Each hour-long episode of “Billion Dollar Buyer,” Tilman’s TV show features small business owners competing  to land the “deal of a lifetime” – the opportunity to partner with Landry’s, Inc., supplying stuff to Fertitta’s over 60 restaurants, hotels, and entertainment brands.

The planned bankruptcy auction for RUI Holding has been canceled because no bidder surfaced to compete with a Landry’s bid of $37.2 million for RUI.  A hearing on the sale to Landry’s is scheduled for Sept. 23.

Image result for tom douglas

Tom Douglas

Restaurants Unlimited started in1969 with The Red Baron, a  Seattle steak and lobster house.  The comnay expanded to high priced Palisades and Palomino.  In 2007 the company was sold to Sun Capital, a private equity firm that retains an ownership role with RUI.  Landry’s owns and operates more than 600 properties under more than 60 brands including Landry’s Seafood, Chart House, Saltgrass Steak House, Bubba Gump Shrimp Co., Morton’s The Steakhouse, Mastro’s Restaurants and Rainforest Cafe. It acquired the Portland-based McCormick & Schmick’s chain in 2011.

So, the churn of investor capital ran out.  They are bankrupot like ENRON.  where does that lead to our local media star and chef entrepreneur, Tom Douglas?  Can Tom’s local chian compete with The Billion Dollar Buyer?

 


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