USA: Phoenix Restaurant Group Receives Letters of Intent to Sell Remaining 97 Denny's for Approximately $76 Million
Phoenix Restaurant Group, Inc. (AMEX: PRG), the owner and operator of the Black-eyed Pea (BEP) restaurant chain and the largest franchisee of Denny's, today announced that it has received letters of intent to purchase its remaining 97 Denny's restaurants. Through its advisor, CNL Advisory Services, and a three-month bid and due diligence process, various buyers have submitted offers for varying numbers of restaurants.
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