Back in July, the story broke that the Bacchus Group (Spruce, Village Pub) was brought in to fix the trainwreck that was and is Aqua, and today, Le Blog de Bauer reports that Bacchus is just going to go ahead and buy the whole financially-troubled enchilada. Though there are plenty of issues still to be sorted out, they're hoping to keep the Aqua name and reestablish it as a fine dining destination. Bacchus overlord Tim Stannard also says that there's a mysterious chef in line, so if you've heard rumblings, do share any and all rumors in the comments (or tipline).
By the way, we all know that Aqua lost both of its Michelin stars earlier this week when the 2010 guide dropped, but did anyone notice that it was completely dropped from the guide altogether? Of the 400+ Bay Area restaurants included in the guide—starred and otherwise—Aqua is not even listed in the red book at all: