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CKE Restaurants, Inc.
Hardee’s® Sells 11 Restaurants to Successfully Complete Strategic Refranchising Plan
January 31st, 2009
CKE Restaurants, Inc. (NYSE:CKR) announced the sale of 11 Hardee’s® restaurants in the Jefferson City and Columbia, Missouri markets to Rising Stars, LLC. This transaction marks the successful completion of the strategic refranchising program the Company originally announced in April, 2007. Under the refranchising program, CKE Restaurants sold a total of 238 Hardee’s units to franchisees and secured commitments for 115 new franchise restaurants under development agreements for those markets. The Company sold 38 units, or 19 percent, more than it originally announced it would refranchise as the demand for these units exceeded expectations. The Company currently owns 477...
Source: Law & Health Weekly (2009-01-31)
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