"The company announced Nov. 3 it was going private following a $620 million deal with investment firms TriArtisan Capital Advisors, Treville Capital and Yadav Enterprises. Last year, investors said in a news release that they planned to close 150 of the chain's lowest-performing stores by the end of 2025 but did not give an official list of stores expected to close. The company also said it would open other locations across the country but did not indicate where."
"After a yearslong decline, Denny's stock jumped 47% immediately after the sale. We look forward to working with Kelli and the rest of the Denny's team and franchisees to provide resources and support the company's long-term strategic growth plans, said TriArtisan co-founder and managing director Rohit Manocha in a statement earlier this month. Known for its 24/7 operating hours and classic diner breakfasts, the chain has more than1,500 diners nationwide, including 348 in California, according to its website."
Denny's closed its Coddingtown Mall restaurant on West Steele Lane in Santa Rosa and posted signs directing customers to its Baker Avenue location. The closure leaves Santa Rosa with one operating Denny's while Petaluma's location remains open. Other North Bay locations have closed recently, including Ukiah and Napa, while restaurants in Vallejo, Fairfield and Cordelia remained open as of late November. The company agreed to go private in a $620 million deal with TriArtisan Capital Advisors, Treville Capital and Yadav Enterprises. Investors plan to close 150 lowest-performing stores by the end of 2025 and open new locations. Denny's operates over 1,500 diners, including 348 in California. The stock jumped 47% following the sale.
Read at www.pressdemocrat.com
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