Jeff Crivello, the former CEO of Famous Dave’s, plans to take over 10 Iron Hill Brewery & Restaurant locations, including the location at 785 Huntingdon Pike in Huntingdon Valley (Lower Moreland Township), The Philadelphia Business Journal reported today.

The chain filed for Chapter 7 bankruptcy in October and announced the immediate closure of their 16 remaining locations in September.

According to The Journal, Crivello plans to reopen them or convert them into new concepts and will purchase Iron Hill’s assets and leases through the entity IH Restaurants LLC in exchange for a credit bid of $12 million.

Negotiations with the landlords of eight locations (including the Huntingdon Valley location) are ongoing, The Journal said, adding that Crivello hopes to rehire former Iron Hill employees that were impacted by the shutdown. 

More to come.

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