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Popular Burger Chain Selling 30 Restaurants to Pay Down Debt
The sale will help Red Robin reduce debt as it advances a plan to refranchise stores and improve operations, the company said.
- On Thursday, national burger chain Red Robin sold 30 company-owned restaurants in Washington and Western Idaho to Evergreen Dining LLC for $23.5 million, converting them into franchises.
- The transaction supports the "First Choice Plan," introduced in July 2025, which aims to manage expenses and reduce debt through refranchising select company-owned markets.
- Evergreen Dining operates over 100 restaurants and has 30 years of industry experience, providing organizational depth to run these locations under the Red Robin brand.
- CEO David Pace previously noted the chain could ultimately be 65% to 75% company-owned, and Red Robin remains in final discussions with multiple parties about converting additional locations into franchises.
- Expected to close during the second half of the year, the sale allows Red Robin to pay down debt and strengthen its balance sheet while evaluating potential refinancing partners.
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Popular burger chain selling 30 restaurants to pay down debt
A national burger chain is selling 30 of its company-owned restaurants to pay down debt. (Photo: Adobe Stock)
·Seattle, United States
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Total News Sources17
Leaning Left1Leaning Right0Center15Last UpdatedBias Distribution94% Center
Bias Distribution
- 94% of the sources are Center
94% Center
C 94%
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