The sale to privately held Red Tail Ventures LLC, based in theSan Diego County of Carlsbad, involves 125 Taco Bueno stores. Thetransaction will allow Anaheim-based CKE to focus on its Carl's Jr.hamburger chains and on turning around the under-performingHardee's restaurants that are left in its portfolio.
Though the sale itself is unlikely to effect any leasesinvolving the Taco Bueno chain, CKE is already trying torestructure terms of many of its bank loans. The loans require thatCKE apply proceeds from the sale toward its $255 million indebt.
CKE announced plans earlier this year to sell at least 500stores in 2000 in an effort to raise $200 million. As part of thoseefforts, it agreed last month to sell 48 of its Hardee'srestaurants for $13.5 million to Doro Inc., a chain based inWisconsin.
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