Buffets granted approval to sell two Fire Mountain properties

By Caroline Salls

Pittsburgh, Jan. 7 - Buffets Holdings, Inc. obtained court approval to sell Fire Mountain properties in Middletown, Ohio, and Weatherford, Texas, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, SBC Investments LLC has agreed to pay $450,000 for the Middletown property, and Synergy Properties group has agreed to pay $850,000 for the Weatherford property.

According to the motion, the properties are not a core component of Buffets' long-range business strategy, and they are an economic and administrative burden.

Buffets Holdings, a steak-buffet restaurant company based in Eagan, Minn., operates restaurants under the names Old Country Buffet, HomeTown Buffet, Ryan's and Fire Mountain. The company filed for bankruptcy on Jan. 22, 2007, and its Chapter 11 case number is 08-10141.

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