Industry News | June 3, 2010
Bankruptcy Sale Completed for 66 Jack in the Box Units
Beverly N. McFarland, Chapter 11 Trustee for the Bankruptcy Estate of Central Valley Food Services, Inc., Food Services Management, Inc., Kobra Associates, Inc., and Sierra Valley Restaurants, Inc., has announced the completion of the sale by National Franchise Sales of the final ten Jack in the Box restaurants in the Chico/Redding area in Northern California, to a group led by Ben Nematzadeh.
This represents the fifth and final transaction since National Franchise Sales was engaged to sell 66 franchised Jack in the Box restaurants in California. The sale of the earlier blocks of stores, completed since May 1, include 21 units in the Fresno area to Nematzadeh’s group, 26 units in the Sacramento area to a group led by Anil Yadav, five units in the Sacramento area to Sunita Sagar, two units in the Fresno area to Jyoti Madhura, and a sale of the Eureka and Crescent City locations to a group led by Romesh Japra.
The transactions were financed by Wilshire Bank of Los Angeles and City National Bank.
For more information, please contact Alan F. Gallup or Michael Ingram. Additional information is available at www.nationalfranchisesales.com.
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