Darden to buy back $600 million debt if Red Lobster sale goes through (Undercurrent News)
Darden Restaurants Inc. has launched a tender offer for as much as $600 million of its debt, the company said Monday. The debt repurchase is subject to the completion of the sale of its Red Lobster division, Darden said. In May, the company said it would sell the struggling seafood chain for $2.1 billion to private equity firm Golden Gate Capital. The company had said it expected to use $1 billion of the cash proceeds from the Red Lobster sale to retire outstanding debt. Monday’s announcement is in addition to recent disclosures that it would buy back $290 million in debt.
Noodles & Co. adds waiters to work on upselling (Bloomberg Businessweek)
In a push for more dinnertime sales, the fast-casual operator plans to add a free-floating server whose job is to tempt guests to order dessert, beer, wine and coffee.
Disney World to open food truck park (Eater)
Disney plans to park its four food truck concepts together at Disney World's Downtown Disney section.
McAlister’s Deli prepares to give away 350K free sweet teas (PR Newswire)
Thursday, July 24, marks the sixth annual Free Tea Day for McAlister’s Deli, the fast-casual chain celebrating its 25th anniversary in 2014. The 325-unit chain expects to hand out 350,000 32-ounce glasses of its signature beverage. No coupon or purchase is required. Through the 24th, fans can enter a sweepstakes to win a $25 McAlister’s gift card or the grand prize, a $250 gift card.
Jimmy Buffett's restaurant in Waikiki to close (Pacific Business News)
Jimmy Buffet’s Restaurant & Bar at the Beachcomber in Hawaii will close and terminate its lease at the Holiday Inn Waikiki Beachcomber Resort on Aug. 31. The restaurant opened in 2009.