HIP Enterprises, owned by northern Utah restaurateur Hersh Ipaktchian, has acquired the three Mullboon's restaurants in Ogden, Midvale and Trolley Square for $1 million from the U.S. Bankruptcy Court.
The chain was formerly owned by Allen Hospitality Group, which had filed bankruptcy for protection under Chapter 11 of the U.S. Bankruptcy Code. Also in bankruptcy is the private club Studebaker's, which was not included in the deal with HIP Enterprises.After taking control of the three restaurants Sept. 1, Ipaktachian said he plans to expand the menu, reduce lunch prices and increase service time. He said Mullboon's popular "complimentary" shrimp bowl will remain.
The purchase of Mullboon's increases HIP's restaurant division sales to $10 million. The company also owns the Peppercorn and Don Pedro's restaurants in Layton and Hobo Jo's fast food locations in Layton, Kaysville and Ogden, and has real estate and storage facility investments.