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Article: Buffets, Inc. Announces Sale of Original Roadhouse Grill and Updates Same Store Sales Expectations.
- Article from:
- Business Wire
- Article date:
- June 6, 2003
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Business Editors
EAGAN, Minn.--(BUSINESS WIRE)--June 6, 2003
Buffets, Inc. today announced the completion of the sale of its 13 Original Roadhouse Grill restaurants for approximately $30 million in gross proceeds, comprised of approximately $26 million in cash proceeds, $1.3 million in net assumed liabilities and $2.5 million in notes receivable.
Buffets applied the net cash proceeds from the sale of its Original Roadhouse Grill restaurants, totaling approximately $24.5 million, toward the reduction of its senior indebtedness.
Buffets also announced that comparable store sales for the fourth quarter of its 2003 fiscal year (the ...