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Article: McDonald's Buys 10 Closed Burger King Restaurants in Northern California.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 21, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan. 20--Ten closed Burger King restaurants, formerly controlled by Sacramento entrepreneur Joseph J. Lal, now are in the hands of archrival McDonald's Corp.
McDonald's purchased the local outlets from the U.S. Bankruptcy Court for nearly $5.5 million, almost twice what Burger King reportedly offered to retain control. The court approved the sale Friday.
McDonald's could not pinpoint when the restaurants -- which still need to be refurbished and outfitted with McDonald's supplies and equipment -- will reopen, though it could be within six months.
The restaurant purchases dovetail with two other court-approved sales of Sacramento Burger King ...