Landry’s arranges backup financing, but warns it could hurt company

HOUSTON Prior to an Aug. 16 court hearing to decide whether $400 million in 7.5-percent, senior, unsecured notes can be accelerated by the note holders and made immediately due, Landry’s Restaurants Inc. said Thursday it had set up a “stand-by” credit facility. But a Landry’s executive said use of the facility could cause “irreparable harm” to the company.

Landry’s, which operates some 200 casual-dining restaurants under various brands as well as hotels and

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