09/12/2025 | Press release | Distributed by Public on 09/12/2025 15:14
Item 1.03 Bankruptcy or Receivership.
Plan of Liquidation
On July 24-2024 Amergent Hospitality Group, Inc. (the "Company") and certain of its affiliates filed voluntary petitions for relief under chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division (the "Bankruptcy Court") under Case No. 24-42483-MXM-11 (the "Chapter 11 Case"). Subsequently, on September 2, 2025, the Bankruptcy Court entered an entered an order [Docket No. 260] (the "Disclosure Statement Order"): (a) approving the adequacy of the Disclosure Statement Relating to the Joint Chapter 11 Plan of Liquidation of Amergent Hospitality Group, Inc. and Its Debtor Affiliates (the "Disclosure Statement"), (b) approving the solicitation procedures (the "Solicitation Procedures") with respect to confirmation of the Joint Chapter 11 Plan of Liquidation of Amergent Hospitality Group, Inc. and Its Debtor Affiliates (the "Plan"), (c) approving the forms of ballots and notices in connection therewith, (d) scheduling certain dates with respect thereto, and (e) granting related relief.
The Bankruptcy Court has requested that the Company provide in this Current Report on Form 8-K the following notices:
"PLEASE TAKE FURTHER NOTICE THAT because of the nature and treatment of Class 7 Equity Interests under the Plan, Holders of Equity Interests in Amergent Hospitality Group, Inc. are not entitled to vote on the Plan. Specifically, to the extent the Class under the Plan in which the Claim or Interest is classified does not entitle the holders of such claims or interests to receive or retain any property under the plan on account of such claims or interests, such Class is deemed to have rejected the Plan. Accordingly, collection of Ballot for members of such Class of Claims or Interests is not necessary.
PLEASE TAKE FURTHER NOTICE THAT the hearing at which the Court will consider Confirmation of the Plan and related voting and objection procedures (the "Confirmation Hearing") will commence on October 21, 2025 at 1:30 p.m. prevailing Central Time, before the Honorable Mark X. Mullin, in the United States Bankruptcy Court for the Northern District of Texas, located at Room 128, United States Courthouse, 501 West 10th Street, Fort Worth, Texas 76102.
PLEASE TAKE FURTHER NOTICE THAT the deadline for filing objections to the Plan is October 14, 2025 at 5:00 p.m., prevailing Central Time (the "Confirmation Objection Deadline"). Any objection to the Plan must: (a) be in writing; (b) conform to the Bankruptcy Rules, the Bankruptcy Local Rules, and any orders of the Court; (c) state, with particularity, the basis and nature of any objection to the Plan and, if practicable, a proposed modification to the Plan that would resolve such objection; and (d) be filed with the Court (contemporaneously with a proof of service) on or before the Confirmation Objection Deadline.
Voting Record Date. The voting record date is September 2, 2025, which is the date for determining which holders of Claims and Interests are entitled to vote on the Plan, if entitled to vote.
BINDING NATURE OF THE PLAN. IF CONFIRMED, THE PLAN SHALL BIND ALL HOLDERS OF CLAIMS AND INTERESTS TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WHETHER OR NOT SUCH HOLDER WILL RECEIVE OR RETAIN ANY PROPERTY OR INTEREST IN PROPERTY UNDER THE PLAN, HAS FILED A PROOF OF CLAIM IN THE CHAPTER 11 CASES, OR FAILED TO VOTE TO ACCEPT OR REJECT THE PLAN OR VOTED TO REJECT THE PLAN."
Material Features of the Plan
Below is a summary of the material terms of the Plan. This summary describes only certain substantive provisions of the Plan and is not intended to be a complete description of the Plan. This summary is qualified in its entirety by reference to the full text of the Plan, the definitive documents implementing the Plan and the Confirmation Order.