DALLAS Ending weeks of speculation, Dave & Buster’s Inc. confirmed that it is considering a sale.
The operator of 49 large-box entertainment/dining complexes said it had retained Jefferies & Co. Inc. to assist in exploring a possible sale and has reduced debt under its senior credit facility.
“The decision to engage Jefferies & Co. and reduce debt is a direct result of our continued strong comparable store sales growth, substantial earnings growth and significant free cash-flow generation," Steve King, Dave & Buster’s chief executive, said in a statement on Tuesday.
Dave & Busters plans to issue at the end of April its audited financial results for the fiscal year ended Feb. 3.
The company also said it had paid $10 million toward the early retirement of its senior credit facility during the fourth quarter 2007 and currently has no borrowings outstanding under its revolving credit facility. The company said the debt reduction was funded from generated cash.
