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RED ROBIN GOURMET BURGERS, INC., COMPLETES SALE OF 108 RESTAURANTS FOR $89.4 MILLION
Source: PR Newswire
M&A & RestructuringCompany FundamentalsCredit & Bond Markets
Red Robin plans to close its remaining 8 restaurants by fiscal year end, targeting about $6.6 million in proceeds. Management says the proceeds are intended to support debt reduction and refinancing, reflecting a cost/portfolio rationalization effort. The initiative is modest in scale but signals continued pressure on the business and balance-sheet management.
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