Red Robin selling 30 restaurants to franchisee for $23.5M to pay down debt

Filed May 28, 2026 · Period ending May 27, 2026 · ~1 min read

Key Changes

• high

  Red Robin is selling 30 company-owned restaurants in Washington and Idaho to Evergreen Dining for $23.5 million cash. After closing, these locations will operate as franchised restaurants under long-term franchise agreements.

  Item 1.01 verify on EDGAR →
• high

  All net proceeds from the sale will be used to reduce outstanding debt, signaling the company is prioritizing deleveraging over expansion or other capital uses.

  Item 7.01 verify on EDGAR →
• medium

  The transaction is expected to close around August 21, 2026 (outside date October 2, 2026), subject to landlord consents, liquor license transfers, and lender approval. These conditions create execution risk.

  Item 1.01 verify on EDGAR →