 |
|
 
|
|
|
Sign up now for your FREE subscription to the interactive digital magazine.
|
|
Part of ongoing effort to pay down debt and reinvigorate chain in the U.S.
Tampa-based OSI Restaurant Partners, chain-restaurant operator owned by Bain Capital LLC and Catterton Partners, is seeking lender approval to sell its Outback Steakhouse units in Asia. OSI may also sell development rights in Asia if lenders agree to amend its credit agreement, the company announced Tuesday in a regulatory filing.
The company has restaurants in Korea, Japan and Hong Kong.
In 2009, the company generated $3.3 million in net income on annual sales of $240 million from its Asian operations. Same-store sales in the U.S. continued to be down at three of OSI's four chains in the quarter ended December 31, including a 6 percent decline for Outback, 4 percent drop for Carrabba's Italian Grill and 6 percent decline for Fleming's Prime Steakhouse and Winebar. Same-store sales for Bonefish rose 1 percent.
Did you enjoy this article? Click here to subscribe to the magazine.
