Houston billionaire Tilman Fertitta stakes claim on another bankrupt restaurant

Houston billionaire Tilman Fertitta is seeking to add another steakhouse chain to his growing restaurant empire.

His Golden Nugget LLC company agreed to pay $50 million for The Palm chain, making it the stalking horse bidder for an upcoming bankruptcy auction, according to court documents. The auction is slated for March 9.

The stalking horse bid sets the base level purchase price for the company’s assets. As long as Fertitta’s company remains the highest bidder, he will acquire 21 U.S. Palm…