East Coast PE firm wins auction for Tex-Mex chain Trudy’s

Austin
Trudy's Texas Star (Austin Business Journal Photo/Arnold Wells)

Trudy’s Texas Star (Austin Business Journal Photo/Arnold Wells)

AUSTIN (Austin Business Journal) — Six months after filing for Chapter 11 bankruptcy, Tex-Mex restaurant chain Trudy’s has found a buyer.

North Carolina-based private equity firm Hargett Hunter Capital Management won a July 23 auction for the Austin restaurant chain. The agreement could become official next month with approval from a bankruptcy judge.

Trudy’s Texas Star Inc. owns three locations of Tex-Mex eatery Trudy’s in Austin as well as South Congress Cafe and all remain open. The company has been fighting for its life since filing for Chapter 11 bankruptcy protection on Jan. 22, just a couple of months before the coronavirus pandemic hit, decimating even financially healthy restaurants.

Jeff Brock, Hargett Hunter’s founder and managing partner, said July 24 the firm was “very excited to partner with such an iconic Austin brand.”

Read the full story on the Austin Business Journal’s website.

Trudy's on Burnet Road (Austin Business Journal Photo/Arnold Wells)
Trudy’s on Burnet Road (Austin Business Journal Photo/Arnold Wells)

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