Avado Brands has completed a $27.7m (£19.19m) sale-and-leaseback deal with LLC and Franchise Finance Corporation of America comprising 20 Hops restaurants.
The deal provides the US company with enough capital to reduce debt for the rest of the year. The company will also continue to pursue the sale of other assets and potential sale-and-leaseback transactions.
The 258-strong restaurant chain includes 17 Canyon Cafe Southwestern restaurants, 139 Don Pablo's Mexican Kitchens, 72 Hops Restaurant - Bar - Breweries and 30 McCormick & Schmick's seafood dinner houses.
The deal provides the US company with enough capital to reduce debt for the rest of the year. The company will also continue to pursue the sale of other assets and potential sale-and-leaseback transactions.
The 258-strong restaurant chain includes 17 Canyon Cafe Southwestern restaurants, 139 Don Pablo's Mexican Kitchens, 72 Hops Restaurant - Bar - Breweries and 30 McCormick & Schmick's seafood dinner houses.
