Red Robin selling 86 restaurants to franchisees for $72.5M to pay down debt

Filed June 15, 2026 · Period ending June 11, 2026 · ~1 min read

Key Changes

• high

  Red Robin is selling 86 company-owned restaurants across 10 states to two franchisee groups for $72.5 million cash ($62.5M for 69 locations, $10M for 17 locations), with closings targeted for July and August 2026.

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• high

  All proceeds will be used to reduce outstanding debt, signaling the company is prioritizing balance sheet deleveraging amid disclosed concerns about refinancing maturing debt and covenant compliance.

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• high

  The restaurants will convert from company-operated to franchised locations after closing, reducing Red Robin's direct revenue and capital requirements while shifting to a royalty-based model.

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