HRI Holding Corp.’s Chapter 11 is a sale-driven restructuring built to keep the restaurant platform operating while its assets were marketed and a lender-supported transaction was tested. The November 2019 filing followed liquidity constraints and an unsustainable capital structure despite operating and cost-reduction efforts; the debtors had entered a June 2019 forbearance and sale-support arrangement with lenders and retained Piper Jaffray to run the process, as described in the first-day declarationDkt. 2.