April 26, 2016
Approximately one week after announcing $197-million sales-leaseback arrangements for its stores with National Retail Properties Inc. and Mesirow Realty Sale-Leaseback Inc., Bob Evans Farms Inc. has closed 21 company-owned restaurants. Six more as-yet-undisclosed locations will reportedly be shuttered next year.
The closings, which are taking place in Florida, Indiana, Kentucky, Maryland, Michigan, Missouri, Ohio, Pennsylvania, Tennessee and Virginia, are impacting approximately 1,100 workers. According to a press release from the New Albany, OH-based company, the sale of the closed restaurants should lead to proceeds of approximately $20 million.
The release also indicated that employees impacted by the closure have been offered positions in nearby restaurants. In the event that relocation isn’t possible, severance benefits were offered to full- and part-time employees.