Yardbird Group LLC

Yardbird Group is pursuing a sale of substantially all its assets to stalking-horse bidder SH Acquisition, LLC after receiving no competing bids and canceling its auction. The debtors will seek approval of the proposed sale at a November 9, 2026 hearing, according to the auction cancellation notice Dkt. 196.

Yardbird Group is seeking approval to sell substantially all its assets to SH Acquisition, LLC after no competing bids were submitted by the extended October 30, 2026 deadline. The debtors canceled the auction and designated the stalking-horse bidder as successful; the auction cancellation notice Dkt. 196 sets the sale hearing for November 9, 2026 at 10:00 a.m. Eastern time. The sale remains subject to court approval.

Yardbird and its affiliates filed for chapter 11 protection on September 21, 2026. The restaurant group operated company-owned locations in Dallas, Washington, D.C., and Chicago and licensed locations in Las Vegas and Singapore. In the first-day declaration Dkt. 2, Chief Restructuring Officer Albert Altro attributed the financial difficulties to expansion spending, location-specific challenges, lasting effects of COVID-19, and a burdensome capital structure. The declaration reported approximately $24,838,611.31 in funded debt at the petition date and said unsuccessful restructuring negotiations with CNB preceded defaults and litigation.

The court's final financing order Dkt. 134 authorized up to $1.8 million in new-money debtor-in-possession loans, use of cash collateral under a budget, and a two-for-one roll-up of specified prepetition obligations tied to funded new-money loans. The proposed sale agreement contemplates a credit bid of DIP and prepetition obligations and assumption of certain liabilities, according to the first-day declaration.

The bidder's declaration Dkt. 211 says SH Acquisition intends to continue operating the acquired restaurants under the Yardbird brand and offer employment to substantially all restaurant-level employees at acquired locations. A Washington, D.C. landlord's sale objection Dkt. 205 contests the proposed assignment of its lease absent adequate assurance of future performance. The debtors' sale declaration Dkt. 210 maintains that the stalking-horse agreement is the highest and best offer and that further marketing would add cost and delay.