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Spectrum to sell a Prego and Harry's Bar

IRVINE Calif. Spectrum Restaurant Group, the once-prominent multiconcept group that slipped into bankruptcy two years ago, is selling two more remnants of its glory days: A Prego restaurant in Irvine, Calif., and Harry’s Bar in La Jolla.

The pending deals follow the sale of such well-known holdings as the MacArthur Park restaurant in Palo Alto and three National Sports Grill outlets.

Harry’s is being acquired by its general manager and two outside investors for $650,000.

The Prego’s buyer has not been identified, but court documents indicate that the sale is in escrow for $1.2 million. Two other Prego outlets in Southern California were acquired by investors earlier this year.

Spectrum was also the owner of the Grandy’s and Crabby Bob’s concepts. It filed for bankruptcy protection in 2006, the second time the company had sought Chapter 11 protection.

TAGS: Finance News
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