Landry's Cuts a Deal

Yes, we know it's not "new" news, however, we did promise an update - even if an admittedly late one. Landry's Seafood Restaurants cut a deal with its bondholders which buys them two more years of financing for a 2% rate increase. The cost of money goes up from 7.5% to 9.5% - or, approximately $15mil/year. That's a lot of clams, but it does beat the alternative.
Photo courtesy of flickr user B&M Photography