Operator M&A Update: Landry’s and Houlihan’s, Applebee’s Franchisee Expands Holdings

The market continues to see a lot of M&A activity around casual-dining concepts. Two more were reported last week:      –Venerable casual-dining operator Houlihan’s Restaurants filed for Chapter 11 bankruptcy as part of a deal to sell itself to multi-concept casual-dining company Landry’s. Landry’s made a “stalking horse” $40 million offer for the chain,…