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Article: Shoney's Plans to Sell Three Restaurant Chains
- Article from:
- THE JOURNAL RECORD
- Article date:
- January 17, 1995
CopyrightCopyright 1995 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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NASHVILLE, Tenn. (AP) _ The restaurant group Shoney's Inc., on
Monday announced plans to sell three eatery chains as part of a
plan to refocus its energies on the kid-friendly dining it helped
pioneer.
The restructuring, which also involves executive changes, will
result in the sale of the company's 310 Pargo's, Fifth Quarter,
and Lee's Famous Recipe eateries, along with its institutional
supplier Mike Rose Foods. The company will keep only its Shoney's
and Captain D's restaurants.
There are two Shoney's and five Captain D's restaurants in the
Oklahoma City area.
Money from the sale will be used to reduce company debt and
improve Shoney's restaurants, a company statement said.
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