Giordano’s has received a $26 million offer for its restaurant operations, the Chicago-based pizza chain said in court documents filed Wednesday in its bankruptcy case.
Giordano’s said it has entered into an agreement with Italian Food Network LLC. Sources say Italian Food Network is a holding company connected to the owners of the Connie’s Pizza restaurant chain. Court documents indicate that Connie’s has signed a confidentiality agreement with Giordano’s.
The bid was disclosed in a motion Giordano’s made in bankruptcy court seeking approval to conduct an auction for the restaurant business. The offer is for Giordano’s company-owned and franchised restaurants in Illinois and Florida and does not include the company’s real estate.