McFaddin Ventures Inc. has gone private. The Houston-based public nightclub company has turned over all of its common stock in a legal settlement with an investor group. McFaddin Ventures ran 24 operations in Chicago, California and Florida and reported $30 million in revenues last year. The company gained a listing on the American Stock Exchange in 1983 with a chain of splashy nightclubs such as Confetti, Thrills, The Ocean Club and Wurlitzer’s. In 1985, the company made a stock acquisition of the 1950s theme club Studebaker’s, and nine other clubs, from Leisure Acquisition Corp., managed by the investment group of J. Stuart Sargent, Paul H. Holmes and former Chicago Bears running back Walter Payton. (excerpt)

Full text: Houston Business Journal, Aug 14, 1989

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