Red Robin Sells 30 Company-Owned Units for $23.5 Million
Red Robin has sold 30 company-owned restaurant units in Washington and Western Idaho to Evergreen Dining for $23.5 million, with the transaction expected to close by year-end. The proceeds will be used to pay down debt and support its First Choice Plan aimed at refranchising stores and reducing expenses.
Tickers: $RRGB
Topics: corporate restructuring franchise strategy restaurant industry