Beloved burger chain sells more locations in restructuring push

• Red Robin is selling 86 company-owned restaurants to franchise operators for $72.5 million as part of its "First Choice" turnaround plan.
• Op Burgers LLC will acquire 69 restaurants across eight states for $62.5 million while Kuber Oregon LLC and Kuber Washington LLC will take over 17 locations in Oregon and Washington for $10 million.
• These sales, expected to close in the second half of 2026, aim to strengthen Red Robin's financial foundation, reduce debt and support refinancing efforts.
• The burger chain previously agreed to sell 30 additional locations, bringing the total expected proceeds from all deals to about $96 million.
• The transactions will shift Red Robin closer to its goal of having approximately 65 percent company-owned restaurants, with about 206 franchised and 263 company-owned locations after these deals.

IN FULL

Once-popular burger chain selling dozens of locations across the country