Cracker Barrel divests Maple Street Biscuit
Cracker Barrel is selling its Maple Street Biscuit Company business and restaurant properties to reduce debt and improve profitability, with plans to convert acquired locations into Biscuit Belly outlets. The company also completed a sale-leaseback deal generating approximately $77 million, which it will use to pay down debt while continuing operations. These efforts aim to refocus on the core Cracker Barrel brand amid recent setbacks, including a failed logo rebrand and declining sales.
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