Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) completed the sale and refranchising of 108 company-owned restaurants, generating approximately $89.4 million in gross proceeds. Eight additional restaurants are expected to close by fiscal year-end after liquor-license transfers, potentially raising the total to 116 restaurants and $96 million.
The restaurants will continue operating under the Red Robin brand through long-term franchise agreements. Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) intends to use net proceeds primarily to repay credit-facility borrowings and support refinancing priorities. The central question is whether debt relief and a capital-light model will compensate for transferred restaurant-level…