Every week, we take a look into some of the biggest financial news to emerge from the world of food. Here is this week’s:
Chipotle Mexican Grill: The company announced a partnership with restaurateurs Bobby Stuckey and Lachlan Mackinnon-Patterson to launch a fast-casual pizza concept called Pizzeria Locale.
Quiznos: For the second time in two years, Quiznos seeks to restructure its debt load as it struggles to turnaround financially. The sandwich chain recently missed a payment on a loan and is working with creditors to restructure some or all of its nearly $600 million debt.
Ruby Tuesday Inc.: As means to explore strategic alternatives, the company hired investment bank Goldman Sachs. Unnamed sources say that the company is likely seeking a leveraged buyout. Within three days of the news, Ruby Tuesday’s stock price rose 6 percent to about $7.28 after opening at $6.84.
McDonald’s Corp.: The company reported a half-percent increase in global same-store sales for the month of November. Its European division’s strong sales growth offset weak sales in the U.S. and Asia for the third time in the past four months.
Darden Restaurants Inc.: For the second quarter, the company reported a 41.1 percent decline in profit, saying it plans to either turn around or sell its Red Lobster brand.
Cracker Barrel Old Country Store Inc: The company’s largest single shareholder, Sardar Biglari, urged for the chain to consider strategic options, including a possible sale.
We’re always on the lookout for new financial news, so let us know!