The Wendy’s Company has made the strategic decision to sell approximately 425 corporate stores in multiple markets. In that regard, Wendy’s has released the following information in a memo to its franchisees:
"We are committed to selling about 425 Company-owned restaurants by the end of the second quarter of 2014 to proven operators who are strong financially, well capitalized, and who contractually agree to re-image and develop new restaurants.
Wendy’s has engaged The Cypress Group to coordinate and assist with all aspects of the sale of company restaurants detailed above. Formed in 1990, Cypress is a specialized investment banking and advisory firm which focuses exclusively on the restaurant industry. Cypress is highly-regarded for its specific expertise in national franchised concepts and is familiar with the Wendy’s system and its franchisees."
As stated in the memo to franchisees, Wendy’s has retained The Cypress Group as the exclusive investment banker to facilitate the sale of the restaurants. Accordingly, Wendy’s has requested all communication regarding this project to be directed to The Cypress Group.
The available markets along with their respective store counts are as follows:
Dallas / Ft Worth
Los Angeles / Palm Springs
Salt Lake City