Jillian's Closes Rochester Club
October 07 2004 - 1:05PM
PR Newswire (US)
Jillian's Closes Rochester Club LOUISVILLE, Ky., Oct. 7
/PRNewswire/ -- Jillian's Entertainment Holdings Inc. closed its
Rochester, N.Y., club today after being unable to find a buyer for
the location. The chain of multi-venue entertainment spots has sale
agreements for substantially all its other assets. The Rochester
location is the only Jillian's club to have closed since the
company filed for reorganization under Chapter 11 of the U.S.
Bankruptcy Code last May 23. The Rochester club, which opened in
1999 in the High Falls historic district near downtown, has
experienced declining revenues, said Gregory S. Stevens, Jillian's
chief financial officer. During the Chapter 11 proceedings, which
included an auction held September 21, the Rochester Jillian's drew
interest but no buyer. The U.S. Bankruptcy Court in Louisville has
approved the sale of most of Jillian's assets to Dave &
Buster's Inc. (NYSE:DAB) and Gemini Investors III, L.P. for $64.8
million. Jillian's, which has its headquarters in Louisville, has
owned, operated and/or licensed 35 clubs in 20 states. DATASOURCE:
Jillian's Entertainment Holdings Inc. CONTACT: Tom Andrzejewski or
Rob Falls of Robert Falls & Co. Public Relations,
+1-216-696-0229 Web site: http://www.jillians.com/
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