Phil Mickelson, smothered, covered, chunked

Golfer Phil Mickelson, a two-time Masters winner and top-five finisher at Augusta National this year, is among a trio of businessmen who have made a late bid to buy a Nashville-based Waffle House franchisee out of bankruptcy.

The group's bid competes with an earlier offer from parent company Waffle House of Norcross, Ga., to buy the SouthEast Waffles franchisee out of bankruptcy for nearly $19 million.

Mickelson's group, GS Acquisitions LLC, has offered $20.2 million in cash and payments over time for the 105-restaurant group that spans four states, according to U.S. Bankruptcy Court documents filed late Tuesday.

Gary Murphey, the court-appointed chief restructuring officer for SouthEast Waffles, called the rival bids an exciting development that could "maximize the return to creditors" in the case.

SouthEast Waffles filed for bankruptcy nearly a year ago amid allegations of the company passing $3.7 million in worthless checks between bank accounts and not paying more than $2 million in payroll taxes.

Since then, it has posted a profit of $3 million from September 2008 through June of this year, Murphey said.

GS Acquisitions is run by Terry Pefanis, former chief operating officer of Franklin-based Big Idea Inc.; Steve Loy, chief executive of Scottsdale, Ariz.-based Gaylord Sports Management, which manages pro sports figures; and Mickelson. Loy is Mickelson's sports agent.

 

This thread title is oddly titillating.

 

Golfer Phil Mickelson, a two-time Masters winner and top-five finisher at Augusta National this year, is among a trio of businessmen who have made a late bid to buy a Nashville-based Waffle House franchisee out of bankruptcy.

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