Tangredi venture bids to buy SouthEast Waffles

An entity led by a member of the Tangredi family of Nashville restaurateurs is seeking to purchase the 105 Waffle House restaurants of Nashville-based SouthEast Waffles LLC, which has been in Chapter 11 bankruptcy for almost a year.

Maria Tangredi, wife of M. Tangredi Restaurants Inc. President Michael D. Tangredi and mother of that company's chief financial officer, Michael G. Tangredi, submitted a bid on SouthEast Waffles' assets Friday in U.S. Bankruptcy Court. Under her reorganization plan, a proposed company, to be called MNM Waffles LLC, would pay at least $24.7 million for the chain of diners – $3 million at closing and the rest in the next six to 10 years.