PRINCETON N.J. Sovereign Investment Co. said it has completed a $69 million sale-leaseback transaction to allow Lone Star Funds to recapitalize its investment in Lone Star Steakhouse & Saloon. Sovereign bought 35 of Lone Star’s remaining 180 restaurants and will lease them back to the restaurant operator for a minimum of 15 years, the company said. Lone Star Steakhouse closed 26 restaurants and laid off 1,500 employees in February. The Wichita, Kan.-based company, which also operates ...
It’s free but we need to know a little about you to continually improve our content.
Why Register?
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to the NRN Digital and Print access package, for only a small additional amount, you can get NRN All Access, which includes premium reports such as the annual NRN Top 200 data. Either way, we ask that you register now. We promise it will only take a few minutes!