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Firm Takes Minority Stake in Cooper's Hawk

Private equity firm Ares Management Group confirmed July 23 that it had made an investment in Cooper’s Hawk Winery & Restaurants. In the deal, Ares bought a minority stake from Connecticut-based KarpReilly, who has held a minority position since 2009.

'Progressive Wage Laws' Send Restaurants Unlimited into Bankruptcy

Citing “progressive wage laws,” Sun Capital partners-owned Restaurants Unlimited Inc. filed for bankruptcy protection July 6 in the U.S. Bankruptcy Court in the District of Delaware. The multi-brand operator, which runs 35 locations across six states, including Kincaid’s and Henry’s Tavern, said rising wages pushed up its annual wage costs by $10.

Perkins Wants to Oust One of Its Biggest Franchisees

After failing to comply with its franchise agreement, one of Perkins’ largest operators could be forced to close 26 locations. Perkins is suing Campbell Land Co., which operates Perkins locations in Ohio (10), Pennsylvania (15), and New York (one), to shutter those stores after not paying royalties and making upgrades.