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Baja fresh hollywood menu3/17/2024 Wendy’s shares Thursday gained $1.39 to close at $35.11. “The risk factor is not very high at that price point,” he said, “even if he just gets income from the franchise fees.” The price Kim paid for the chain - which comes out to about $100,000 a restaurant - was reasonable, even in the face of declining sales, restaurant consultant Paul said. Kim was traveling and couldn’t be reached for comment. Kim operates 400 locations of the various chains and employs more than 3,000 people, Wendy’s said. In addition to owning the Sweet Factory chain and Cinnabon cinnamon roll franchises, buyer Kim is a franchisee of Denny’s restaurants and KaBloom flowers. Wendy’s plans to complete the sale in the fourth quarter. Wendy’s didn’t release details of the agreement to sell the 300-restaurant chain, about half of which are company owned. Investors, including billionaire Nelson Peltz, have been pressuring Wendy’s to improve results and sell lagging operations such as Baja Fresh. “There was a hope and belief it would turn around,” Lynch said. Wendy’s also tinkered with the menu and the management. “Some of them were built because contracts were already in place,” Lynch said. Same-store sales began falling, but Wendy’s added more restaurants to the 169 it originally purchased. “There was a very good growth plan in place,” Wendy’s spokesman Lynch said. When Wendy’s bought Baja Fresh, sales were growing at restaurants open at least a year, a key measure of health known as same-store sales.
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