USA: Dave & Buster’s gains proceeds through sale and leaseback transactions

US-based restaurant and entertainment complex operator, Dave & Buster's (DAB), has completed a sale and leaseback transaction for its world HQ building and warehouse. According to a press release issued yesterday [Wednesday] DAB has also signed letters of intent for sale and leaseback transactions for six of its owned properties. The company is expecting to gain total proceeds of between US$35m and US$40m for the transactions, funds that will be used to reduce DAB’s debt and provide additional liquidity.

December 6, 2001

US-based restaurant and entertainment complex operator, Dave & Buster’s (DAB), has completed a sale and leaseback transaction for its world HQ building and warehouse.

According to a press release issued yesterday [Wednesday] DAB has also signed letters of intent for sale and leaseback transactions for six of its owned properties. The company is expecting to gain total proceeds of between US$35m and US$40m for the transactions, funds that will be used to reduce DAB’s debt and provide additional liquidity.

For its third quarter, DAB posted a loss of US$1.9m on sales of US$81.4m.