Red Robin completes sale of 108 restaurants for $89.4 million proceeds
Red Robin completed the sale of 108 company-owned restaurants for $89.4 million in gross proceeds, with transactions involving three experienced multi-unit operators aimed at strengthening its balance sheet for debt refinancing.
Red Robin said it completed the sale of 108 company-owned restaurants for $89.4 million in gross proceeds. The casual dining chain said the transactions with three experienced multi-unit operators are intended to strengthen its balance sheet and support debt refinancing. It added that eight additional restaurants are expected to be sold.