Houston billionaire Tilman Fertitta buys another restaurant chain out of bankruptcy

Houston-based Landry’s Inc., led by local billionaire Tilman Fertitta, has emerged as the highest bidder in yet another bankruptcy auction for a restaurant chain.

Landry’s submitted a bid of $7.5 million for the Cadillac Ranch chain, owned by Minneapolis-based Granite City Food & Brewery Ltd., according to bankruptcy court documents. The auction earlier this month also included the company’s namesake Granite City Brewery chain. Minnetonka, Minnesota-based BBQ Holdings Inc. (Nasdaq: BBQ), the parent…