Champps agrees to purchase by management

LITTLETON Colo. Champps Entertainment Inc. has signed a letter of intent to sell its 62-unit namesake restaurant chain to a management-led group for $75 million and the assumption of debt, which stood at $14.8 million as of an October securities filing.

The buyers would include Champps chairman and chief executive Michael O’Donnell, chief financial officer David Womack, and a yet-to-be-formed affiliate of the New York-based private-equity firm Kinderhook

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